Shanghai Argo Announced Multi-Program RNAi Licenses And Strategic Collaborations With Novartis

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Shanghai Argo Biopharmaceutical Co., Ltd. ("Argo"), a biotechnology company focused on the discovery and development of next-generation RNAi therapeutics, today announced that it has entered into two exclusive license and collaboration agreements with Novartis PHARMA AG ("Novartis").

- Argo will receive upfront payments of $185 million from Novartis and is eligible to receive potential option and milestone payments as well as tiered royalties on commercial sales.

- Novartis will receive an ex-Greater China exclusive license for a Phase 1/2a stage cardiovascular asset, a worldwide exclusive license for a Phase 1 stage cardiovascular asset as well as an option to license compounds directed against up to two cardiovascular targets.

- Discovered and developed with Argo's advanced RNA interference (RNAi) technology, these programs will reinforce and expand the Novartis RNAi portfolio on Cardiovascular and Metabolic diseases (CVM).

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