Suzhou Ribo Life Science Co., Ltd. (HKEX: 06938) ("Ribo") and its subsidiary Ribocure Pharmaceuticals AB ("Ribocure")  announced that they have entered into an exclusive worldwide licensing agreement with Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) ("Madrigal") for six pre-clinical small interfering RNA (siRNA) programs for the treatment of metabolic dysfunction-associated steatohepatitis (MASH).

The collaboration will utilize Ribo's validated liver targeting siRNA GalSTAR^TM platform to develop novel treatments for MASH. The license agreement covers multiple existing pre-clinical assets from Ribo. In addition, both parties have the option to expand the scope of collaboration onto new siRNA programs including bi-specific siRNAs (agents that target two disease-causing genes simultaneously) utilizing Ribo's unique GalSTAR^TM and siRNA chemical modification platforms.

We are enthusiastic to join forces with Madrigal Pharmaceuticals, drawing on their extensive knowledge together with our siRNA expertise to advance life changing therapies for people affected by liver disease, says Dr. Zicai Liang, CEO of Ribo.

To have the opportunity to work with the company that successfully launched the world's first drug for MASH, a disease with rising prevalence and strong associations with numerous life-threatening comorbidities, is very encouraging. Leveraging our proprietary siRNA platform, we aim to expand the MASH therapeutic landscape through complementary, multi-mechanistic approaches, delivering more targeted and effective treatments for patients with unmet needs, says Dr Li-Ming Gan CEO of Ribocure and co-CEO of Ribo.

Financial Considerations
Under the agreement, Ribo has granted Madrigal an exclusive global license to develop, manufacture, and commercialize several siRNA assets. Ribo will receive an upfront payment of US$60M and cumulative payments could reach US$4.4B if certain development, regulatory and commercial milestones are achieved, as well as potential royalties on net sales.