Core Insights - The strategic collaboration between Bewang Pharmaceutical and Novartis aims to develop multiple cardiovascular products, expanding their existing partnership [1][2] Group 1: Agreement Details - Bewang Pharmaceutical grants Novartis options for two early-stage molecules outside of China for treating severe hypertriglyceridemia (sHTG) and mixed dyslipidemia, along with priority negotiation rights for the BW-00112 (ANGPTL3) product currently in Phase II clinical trials in the US and China [2] - An additional siRNA candidate drug in preclinical research has been licensed exclusively to Novartis outside of China, including a profit and loss sharing option in the US and China, with Phase I clinical trials expected to start in 2026 [2] Group 2: Financial Aspects - Bewang Pharmaceutical will receive an upfront payment of $160 million, with potential milestone and option payments, as well as tiered royalties from commercial sales, totaling a potential milestone value of up to $5.2 billion [2] - Novartis has expressed preliminary interest in participating in Bewang Pharmaceutical's next round of equity financing, with specifics to be determined through due diligence and formal agreements [2]