Suzhou-based Abogen Biosciences agreed to license its mRNA-encoded T-cell engager ABO2203 to Novartis, with 575 million dollars upfront and up to about 7.2 billion dollars in milestones.
Abogen Biosciences said on 2 October that it had entered a licensing and option agreement with Novartis to advance RNA-encoded therapeutics. The Suzhou company granted an exclusive worldwide license to ABO2203, an mRNA-encoded CD19xCD3 T-cell engager aimed at autoimmune disease, plus options on other programs using its RNA platform.
Under the terms in the company statement, Abogen will receive 575 million dollars upfront. If all options on all programs are exercised and milestones are met, it could receive up to about 7.2 billion dollars more in development, regulatory and commercial payments. The release did not say the full figure was guaranteed.
ABO2203 is described as a clinical-stage asset with potential to change treatment of autoimmune diseases. The statement did not give a trial phase, patient numbers or a regulatory filing date.
Secondary briefs rounded the upfront payment and maximum milestones to about 7.8 billion dollars. That sum depends on options and milestones, according to the primary release.
Novartis did not publish additional terms in the materials reviewed. The next disclosed step is Novartis advancing ABO2203 and deciding whether to exercise options on other Abogen programs.