Jan. 8 Quick Takes: Novartis taps China-based Argo for RNAi deal
Plus: Venrock unveils $650M fund and more from Calypso, Isomorphic, Bayer, Flagship and Vertex
Novartis AG (SIX:NOVN; NYSE:NVS) unveiled at least four deals as the J.P. Morgan Healthcare Conference kicked off in San Francisco, including a pair of partnerships in which it is paying Shanghai Argo Biopharmaceutical Co. Ltd. $185 million up front to gain pipeline assets targeting RNAi to treat cardiovascular disorders. The arrangement includes a deal for ex-Greater China rights to an asset in Phase I/II testing, a separate deal for global rights to a second asset in Phase I, and options covering two more targets. Argo said milestone payments in the agreements could escalate the agreements’ total value to nearly $4.2 billion; Argo is also eligible for royalties.
Venrock has closed its latest fund at $650 million, $200 million more than the funds it raised during the last decade, as the firm seeks to ensure it has resources to fund companies longer as they “work their way from vision to scaling.” The VC said Venrock 10 will continue its strategy of investing in seed and series A rounds for companies in healthcare and tech. ...