Novartis Signs 7.8 Billion mRNA Deal with Abogen
Novartis has partnered with Chinese biotech Abogen in a licensing agreement worth up to 7.8 billion dollars to develop mRNA therapies for autoimmune diseases. The deal includes 575 million dollars upfront for exclusive rights to experimental drug ABO2203.
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NOVARTIS AG-REG agreed to pay up to $7.8 billion for mRNA therapies from China-based Abogen on Friday afternoon, expanding its pipeline. The Swiss drugmaker aims to offset recent trial setbacks that wiped nearly $30 billion from its market value. Investors gain a lower-risk entry into messenger RNA treatments as competition heats up across the sector.
