Madrigal Pharmaceuticals struck a licensing and development agreement with Suzhou Ribo Life Science (Ribocure) to license six preclinical siRNA programs targeting metabolic dysfunction-associated steatohepatitis (MASH). The pact includes a $60 million upfront payment and up to $4.4 billion in biobucks tied to development, regulatory and commercial milestones, plus royalties. Ribo will provide programs built on its GalSTAR siRNA delivery and chemical modification platforms; Madrigal intends to integrate the RNAi assets with its approved THR‑β agonist Rezdiffra and other pipeline programs. The deal underscores a strategic move by Madrigal to expand beyond a single‑product company and to capture multi‑mechanistic approaches for MASH. The transaction follows a flurry of MASH acquisitions and alliances across the industry and signals continued investor appetite for liver‑targeted RNA therapeutics. The structure heavily backloads potential payments, aligning incentives for clinical success while limiting near‑term cash outlay.