(Reuters) -Swiss drugmaker Novartis has signed an up to $5.2 billion licensing and options deal with Argo Biopharmaceutical for its experimental cardiovascular drugs, the China-based biotech said on Wednesday.
The deal includes an experimental genetic medicine in mid-stage study to control high blood fat levels and an option to license two drug candidates for high levels of certain blood cholesterols, which increase the risk of heart disease.
The deals are for sales outside China, Argo said.
The biotech, which develops genetic medicines, said Novartis has also expressed a non-binding intention to participate in its next round of equity financing.
(Reporting by Mariam Sunny in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila)
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