Abogen Licenses mRNA Technology to Novartis
Abogen Biosciences has entered into an agreement with Novartis to advance mRNA-encoded therapeutics. The deal could bring Abogen up to $7.2 billion.
Abogen Biosciences, a China-based biotechnology company focused on RNA innovation, has signed a licensing and option agreement with pharmaceutical giant Novartis.
The agreement grants Novartis an exclusive worldwide license to Abogen's lead asset, ABO2203, an mRNA-encoded T-cell engager being developed for autoimmune diseases. Novartis also obtains exclusive options to license other potential programs leveraging Abogen's proprietary RNA platform.
ABO2203 is designed to reset B cells by using messenger RNA (mRNA) to direct the endogenous production of T-cell engagers in vivo. Abogen CEO Bo Ying stated the agreement underscores the broad potential of their RNA platform beyond prophylactic vaccines.
Novartis will pay Abogen an upfront fee of $575 million. If all options are exercised and development milestones are met, Abogen is eligible for potential milestone payments totaling approximately $7.2 billion. The company may also receive royalties on future product sales. The transaction is subject to customary closing conditions, including regulatory approvals.