Novartis (NVS.US) collaborates with P&M Pharmaceuticals to develop cardiovascular products

Zhitong Finance App learned that on September 3, Baowang Pharmaceutical announced that it had reached a new strategic cooperation agreement with Novartis (NVS.US), and the two sides will jointly develop a number of cardiovascular products. This new agreement is a further expansion of the existing cooperation between the two sides. The two sides reached a cooperation in January 2024.

The new cooperation agreement includes:

Licenses and preferences

Marowang Pharmaceuticals granted Novartis the right to select interests outside of China for the treatment of severe hypertriglyceridemia (ShTG) and mixed dyslipidemia, as well as priority negotiation rights for BW-00112 (ANGPTL3) products. The product is currently in phase II clinical trials in the US and China. Subsequent clinical trials of combined drug use will be carried out under the leadership of Perowang Pharmaceutical.

Innovative transaction structure

For another siRNA drug candidate in preclinical research, Marowo Pharmaceuticals granted Novartis an exclusive license outside of China, and included the reciprocal option of sharing profit and loss (P&L) between the US and China. The product is expected to begin phase I clinical trials in 2026.

Licensing fees and equity financing

Marowell Pharmaceuticals will receive an advance payment of 160 million US dollars, and may receive potential milestone and option payments and tiered royalties for commercial sales, with a total potential milestone value of up to 5.2 billion US dollars. In addition, Novartis has an initial intention to participate in the next round of equity financing of Marowang Pharmaceuticals. Its specific participation (including the amount and time of investment) still needs to be determined through routine due diligence and negotiations between the two parties and the signing of a formal agreement.