On September 3rd, Bowantech Pharmaceuticals announced a new strategic collaboration agreement with Novartis AG (NVS.US) for the joint development of multiple cardiovascular products. This newly established agreement represents a further expansion of the existing partnership between the two companies, building upon their initial collaboration reached in January 2024.

The new collaboration agreement includes several key components:

**Licensing Rights and Option Agreements** Bowantech Pharmaceuticals has granted Novartis options for rights outside of China to two early-stage molecules for treating severe hypertriglyceridemia (sHTG) and mixed dyslipidemia. Additionally, the agreement includes priority negotiation rights for the BW-00112 (ANGPTL3) product, which is currently in Phase II clinical trials in both the United States and China. Bowantech will lead subsequent combination therapy clinical trials for this product.

**Innovative Transaction Structure** For another preclinical-stage siRNA candidate drug, Bowantech has granted Novartis exclusive licensing rights outside of China, including reciprocal options for profit and loss (P&L) sharing in the United States and China. This product is expected to initiate Phase I clinical trials in 2026.

**Licensing Fees and Equity Financing** Bowantech Pharmaceuticals will receive an upfront payment of $160 million, with potential milestone and option payments, as well as tiered royalties on commercial sales. The total potential milestone value reaches up to $5.2 billion.

Furthermore, Novartis AG has expressed preliminary intention to participate in Bowantech Pharmaceuticals' next round of equity financing. The specific participation details, including investment amount and timing, remain subject to routine due diligence procedures and formal agreement negotiations between both parties.