Suzhou Ribo Life Science and Madrigal Pharmaceuticals agreed a global licensing deal to develop six preclinical siRNA programs targeting metabolic dysfunction‑associated steatohepatitis (MASH). Ribo will receive $60 million upfront with potential milestones and royalties that could bring cumulative payments toward $4.4 billion. The collaboration leverages Ribo’s GalSTARTM siRNA chemistry and modification platform to advance oral and targeted siRNA approaches for liver disease. The deal signals renewed commercial and scientific urgency in MASH, where large pharma and biotechs have been placing major bets on diverse therapeutic mechanisms.