Abogen announces licensing and option agreement with Novartis to advance mRNA-Encoded T-Cell Engager and other potential RNA programs

Client(s) Suzhou Abogen Biosciences Co., Ltd.

Jones Day is advising Abogen Biosciences in connection with its licensing and option agreement with Novartis to advance RNA-encoded therapeutics. The agreement includes an exclusive worldwide license to Abogen's lead asset, ABO2203, an mRNA-encoded CD19xCD3 T-Cell Engager, as well as options to exclusively license a number of next-generation therapeutic assets developed on Abogen's RNA platform.

Under the terms of the agreement, Abogen will receive an upfront payment of $575 million and, if all options on all programs are exercised, Abogen is eligible to receive up to approximately $7.2 billion in potential milestone payments, subject to the achievement of agreed development, regulatory and commercial milestones. In addition, Abogen may be eligible to receive potential royalties on future product sales.