BASEL (dpa-AFX) - Argo Biopharmaceutical Co., Ltd. Wednesday announced a new collaboration with Swiss pharmaceutical giant Novartis. The deal focuses on developing treatments for serious heart-related conditions like high triglycerides and mixed cholesterol disorders.
This is the third partnership between the two companies and builds on their ongoing relationship.
Under the new agreement, Novartis will pay Argo $160 million upfront, with the potential for milestone and option payments worth up to $5.2 billion, plus royalties if the medicines are successfully commercialized. Novartis has also signaled interest in investing in Argo's next round of fundraising.
The collaboration gives Novartis the rights (outside of China) to two early-stage drug candidates and includes options to share development costs and profits for another drug that is expected to enter human trials in 2026. One of the key medicines in the deal, BW-00112, is already in Phase II clinical trials in the U.S. and China.
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