Genentech (Roche unit) struck a licensing deal with SanegeneBio that gives Genentech global rights to an undisclosed RNAi program and delivers SanegeneBio $200 million upfront. Under the agreement, SanegeneBio will oversee early development while Genentech leads clinical development and commercialization, with up to $1.5 billion in milestone payments and tiered royalties. The pact couples Genentech’s clinical and commercial reach with SanegeneBio’s RNAi chemistry and delivery platforms; Sanegene lists multiple liver-targeted siRNA programs and recent Phase I activity across metabolic indications. The deal signals continued Big Pharma re‑entry into RNA modalities and validates China‑and‑US biotech platforms that combine GalNAc and other delivery chemistries.