biotechnology7 days ago
Novartis Acquires Chinese Autoimmune Therapy for $7.8B Amid Patent Cliff Pressures
Novartis has agreed to pay up to $7.8 billion for Abogen Biosciences' mRNA-based T-cell engager, ABO2203, targeting autoimmune diseases. The deal includes a $575 million upfront payment and grants Novartis global rights to the asset plus an option to license other RNA-platform assets. This move follows recent setbacks in Novartis's CAR-T programs and reflects a broader trend of Western pharma companies partnering with Chinese biotechs to secure future pipeline growth.