Includes worldwide license to ABO2203, Abogen's mRNA-encoded CD19xCD3 T-Cell Engager

Agreement also gives Novartis exclusive options to license other potential programs leveraging Abogen's RNA proprietary platform

Abogen Biosciences ("Abogen" or the "Group"), a clinical-stage biotechnology group pioneering RNA innovation, announced that it has entered into a licensing and option agreement with Novartis to advance RNA-encoded therapeutics. The agreement includes an exclusive worldwide license to Abogen's lead asset, ABO2203, as well as options to exclusively license other potential programs leveraging Abogen's proprietary RNA platform.

ABO2203 is a novel mRNA-encoded CD19xCD3 T-cell engager with the potential to transform the treatment landscape for patients with autoimmune diseases. The program is designed to reset B cells by utilizing mRNA to direct the endogenous production of T-cell engagers in vivo. This approach offers a highly differentiated mechanism for B-cell depletion, potentially providing distinct advantages over traditional recombinant T-cell engagers.

Under the agreement, Novartis will also have the exclusive option to license a number of next-generation therapeutic assets developed on Abogen's RNA platform.

"This agreement marks an important milestone for Abogen, underscoring the broad potential of our RNA platform to expand beyond prophylactic vaccines," said Bo Ying, Chief Executive Officer of Abogen. "ABO2203 is the first mRNA-encoded T-cell engager to enter clinical evaluation for autoimmune diseases, reflecting our commitment to delivering differentiated, accessible and scalable therapies for patients with B-cell-mediated disorders. We are thrilled to be able to accelerate ABO2203 and unlock new therapeutic targets through this agreement with Novartis."

"Achieving effective and durable immune reset remains an important goal across a number of autoimmune diseases," said Fiona Marshall, President of Biomedical Research at Novartis. "mRNA-encoded T-cell engagers represent an innovative approach that could complement existing therapeutic modalities by enabling in vivo production of these molecules.  We look forward to further developing the potential of ABO2203 and additional possible applications of Abogen's RNA platform."

Under the terms of the proposed agreement, Abogen will receive an upfront payment of USD 575 million and, if all options on all programs are exercised, Abogen is eligible to receive up to approximately USD 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. The transaction is subject to customary closing conditions, including required regulatory clearances.