Pharma BD Deal Intelligence
Madrigal Pharmaceuticals / Suzhou Ribo Life Science Co., Ltd.
2026 · Licensing/Option · $4.4B · Complete
Madrigal Pharmaceuticals signed an exclusive global licensing agreement with China's Suzhou Ribo Life Science and its subsidiary Ribocure Pharmaceuticals for six preclinical small interfering RNA (siRNA) programs targeting metabolic dysfunction-associated steatohepatitis (MASH), expanding Madrigal's MASH pipeline beyond its marketed Rezdiffra. Ribo receives US$60 million upfront and is eligible for cumulative milestone payments across the programs of up to US$4.4 billion plus royalties on net sales.
This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.
Key facts
- Announced Feb 11, 2026
- Deal value $4.4B
- Deal type Licensing/Option
- Therapeutic area Hepatology, Metabolic
- Indications Metabolic dysfunction-associated steatohepatitis (MASH)
- Key assets Six preclinical siRNA programs targeting MASH, licensed from Suzhou Ribo Life Science and its subsidiary Ribocure Pharmaceuticals
- Mechanism Small interfering RNA (siRNA) gene silencing of hepatic metabolic targets implicated in MASH
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