Key facts
- Novartis signed a licensing deal with Abogen for up to $7.8 billion.
- The deal grants Novartis exclusive rights to Abogen's experimental drug ABO2203.
- ABO2203 is designed to treat autoimmune diseases by targeting B cells.
- Abogen will receive $575 million upfront.
- Abogen could earn an additional $7.2 billion if the drug is successful.
Swiss pharmaceutical giant Novartis has entered into a significant licensing agreement with Chinese biotech firm Abogen, potentially worth up to $7.8 billion. The deal, announced on Friday, grants Novartis exclusive rights to Abogen's experimental drug ABO2203, which targets B cells for the treatment of autoimmune diseases such as lupus and rheumatoid arthritis. Novartis also secures options to license other therapies developed using Abogen's RNA technology.