Industry
Novartis signs Abogen deal worth up to $7.8 billion
Novartis will pay Abogen $575 million upfront for global rights to an experimental autoimmune treatment.
Novartis has agreed to license an experimental messenger RNA treatment for autoimmune disease from China-based Abogen Biosciences, CNBC reported. The deal is worth up to $7.8 billion, according to CNBC and Fierce Biotech.
Novartis will pay $575 million upfront for global rights, with up to $7.2 billion in milestone payments, CNBC reported. The agreement also gives Novartis an exclusive option to license other assets developed on Abogen’s RNA platform. Fierce Biotech described the treatment as an in vivo autoimmune T-cell engager.
CNBC reported that the deal is part of a growing run of Western drugmaker partnerships with Chinese biotechs.
