Shanghai Argo Biopharmaceutical Co., Ltd. ("Argo Biopharma") announced the first patient dosing in its Phase 2 clinical trial of BW-01, a novel small interfering ribonucleic acid (siRNA) drug for the treatment of severe hypertriglyceridemia, on April 29, 2024. BW-01 is the first siRNA drug independently developed by Argo Biopharma using its proprietary RADS platform technology. This marks a significant milestone achievement in Argo Biopharma’s clinical development.

siRNA is an innovative technology with multiple advantages including strong efficacy, excellent safety profile, low dosing frequency, and broad applicability across a wide range of indications. Consequently, siRNA technology has rapidly gained recognition for its significant potential in the biomedical field.

Founded in 2021, Argo Biopharma is a clinical-stage biotechnology company committed to developing a new generation of siRNA drugs aimed at providing better treatment options for patients worldwide. In less than three years, Argo Biopharma has established a rich and diverse pipeline of siRNA drug candidates covering a wide range of indications. Currently, Argo Biopharma has five siRNA drugs in the clinical stage. In November 2023, Argo Biopharma completed a Series A+ financing round, raising CNY 300 million. This round was led by CS Capital and co-invested by Huagai Capital, Onehealth Haihe Capital, and an existing shareholder, Trinity Innovation Fund.

In a notable achievement, Argo Biopharma reached multiple RNAi out-licensing and strategic collaboration deals with Novartis in January 2024. Under the agreement, Argo Biopharma received an upfront payment of US$185 million from Novartis. The aggregated amounts, including upfront and milestone payments, are valued at US$ 4.2 billion, plus tiered royalties on sales.