Novartis signs $7.8 billion Abogen RNA deal
- Novartis agreed to license Abogen’s ABO2203 and other potential RNA programs in a deal worth up to about $7.8 billion.
- Abogen will receive $575 million upfront and could earn about $7.2 billion in milestone payments if agreed targets are met.
- Novartis is gaining worldwide rights to ABO2203, an mRNA-encoded therapy designed to reset B cells in autoimmune diseases.
Novartis (NYSE:NVS) signed a licensing and option agreement with privately held Abogen Biosciences worth up to about $7.8 billion for ABO2203 and other potential RNA-based programs.
The agreement gives Novartis an exclusive worldwide license to ABO2203 and options to license additional medicines developed using Abogen’s proprietary RNA platform.
“Achieving effective and durable immune reset remains an important goal across a number of autoimmune diseases,” said Novartis President of Biomedical Research Fiona Marshall.
Abogen will receive $575 million upfront and could earn approximately $7.2 billion in development, regulatory and commercial milestones if all options and agreed targets are achieved.
ABO2203 is an mRNA-encoded CD19xCD3 T-cell engager designed to reset B cells in autoimmune diseases.
Following the announcement, Novartis shares were down 0.63% at CHF117.32 in early Zurich trading.
Abogen said its RNA platform supports programs across autoimmune disease, oncology and vaccines, while its ABO1108 shingles vaccine is currently in Phase 3 testing in China.
For Novartis, the agreement follows recent pipeline activity including its July deal to acquire Myricx Bio and September clinical updates across multiple cardiovascular, neurological and immunology programs.
