Genentech struck an exclusive global license with SanegeneBio to develop and commercialize an undisclosed RNA interference (RNAi) program, paying $200 million up front and up to $1.5 billion in milestones. SanegeneBio will run early development while Genentech will lead clinical development and commercialization worldwide. The deal ties Roche’s Genentech back into RNA therapeutics and validates SanegeneBio’s chemistry and delivery platforms. SanegeneBio’s pipeline already includes multiple liver-targeted GalNAc candidates, making the agreement a near-term de‑risking event for both parties and a bellwether for renewed Big Pharma interest in RNAi delivery.