Novartis, Argo join hands for cardiovascular assets in a deal worth up to $5.2B

[Novartis]
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Novartis (NYSE:NVS [https://seekingalpha.com/symbol/NVS]) (OTCPK:NVSEF [https://seekingalpha.com/symbol/NVSEF]) has expanded its collaboration with Argo Biopharma, with multi-asset license and option agreements worth up to $5.2B with the Chinese biotech for several cardiovascular assets.

Under the deal announced on Wednesday, the Swiss pharma giant will receive an option to license ex-China rights related to two discovery-stage molecules targeting severe hypertriglyceridemia (sHTG) and mixed dyslipidemia.

It will also have the right of first negotiation for Argo's Phase 2 asset BW-00112 (ANGPTL3) following a combination trial run by the company in dyslipidemia. The licensing deal also extends to an additional RNA-based molecule currently in early-stage studies.

According to the terms of the deal, Argo is entitled to a $160M upfront payment from NVS in addition to potential milestone and option payments worth up to $5.2B.

It is also eligible to receive royalties on commercial sales and potential equity financing from Novartis (NYSE:NVS [https://seekingalpha.com/symbol/NVS]) in a future funding round. [https://seekingalpha.com/pr/20218827-argo-biopharma-announces-multi-asset-license-and-option-agreements-with-novartis-for-novel]

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