Core Viewpoint - BioArctic AB has entered into a global exclusive license agreement with Bristol Myers Squibb for its PyroGlutamate-amyloid-beta antibody program, which includes significant financial terms and the potential for future collaboration in neuroscience treatments [1][2]. Group 1: Agreement Details - The agreement grants Bristol Myers Squibb exclusive rights for the development and commercialization of BAN1503 and BAN2803 globally, with BioArctic receiving an upfront payment of USD 100 million and up to USD 1.25 billion in milestone payments [1][2]. - BioArctic will also receive tiered low double-digit royalties on global product sales and retains an option to co-commercialize the products in the Nordic region [2]. Group 2: Technology Overview - BioArctic's PyroGlu-Aβ antibody program targets a specific truncated form of amyloid-beta, which is associated with Alzheimer's disease and leads to harmful aggregates affecting cognitive function [3]. - The BrainTransporter technology, included in BAN2803, aims to enhance the delivery of biotherapeutics across the blood-brain barrier by utilizing the transferrin receptor, potentially improving drug efficacy and safety [4][8]. Group 3: Company Background - BioArctic is a Swedish biopharma company focused on innovative treatments for neurodegenerative diseases, including the development of Leqembi, the first drug shown to slow Alzheimer's progression [9]. - The company has a diverse research portfolio targeting various neurodegenerative conditions, leveraging its proprietary BrainTransporter technology for enhanced treatment delivery [9].
BioArctic announces global license agreement with Bristol Myers Squibb for BioArctic's PyroGlutamate-amyloid-beta antibody program