Highlights

  • Madrigal signs exclusive global licensing deal for six preclinical siRNA programs.
  • siRNA therapies aim to target disease-driving genes in MASH alongside Rezdiffra.
  • Agreement includes upfront payment of USD 60 million and potential milestone payments.

 

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) has broadened its MASH (metabolic dysfunction-associated steatohepatitis) pipeline through an exclusive licensing agreement with Suzhou Ribo Life Science Co. Ltd. and Ribocure Pharmaceuticals AB. The agreement covers six preclinical small interfering RNA (siRNA) programs designed to selectively reduce the production of proteins that drive MASH progression. These siRNAs, delivered to liver cells via GalNAc conjugation, are expected to complement Madrigal’s existing therapy, Rezdiffra, currently under a fully enrolled Phase 3 study in compensated MASH cirrhosis (F4c).

Strategic Focus on Genetic Drivers of MASH
The siRNA programs represent an approach to precision gene silencing, targeting validated mechanisms implicated in disease progression. In addition to siRNAs, Madrigal’s pipeline includes MGL-2086, an oral GLP-1 receptor agonist entering first-in-human studies in 2026, and Ervogastat, a Phase 2 DGAT-2 inhibitor, for which combination trials with Rezdiffra are planned. IND-enabling activities for initial siRNA candidates are expected to start in 2026, marking an expansion into genetically targeted MASH therapies.

Financial Terms and Market Implications
Under the license agreement, Ribo will receive an upfront payment of USD 60 million, with potential cumulative milestone payments of up to USD 4.4 billion, in addition to royalties on net sales. The arrangement gives Madrigal exclusive global rights to develop, manufacture, and commercialize these siRNA compounds.

Understanding MASH
MASH is a progressive liver disease with high morbidity and mortality risks, especially in advanced fibrosis (F2-F3) and cirrhosis stages. It also contributes to cardiovascular disease and remains a leading cause of liver transplantation in the U.S. and Europe. The precision gene-silencing approach of siRNAs, alongside Rezdiffra, aims to address underlying drivers of MASH at the genetic level.

Madrigal Pharmaceuticals (NASDAQ: MDGL) closed at USD 478.83 on February 10, 2026, down 1.93% for the session.