BioArctic announces global license agreement with Bristol Myers Squibb for BioArctic's PyroGlutamate-amyloid-beta antibody program

Agreement Details - BioArctic has entered into a global exclusive license agreement with Bristol Myers Squibb for its PyroGlu-Aβ antibody program, including BAN1503 and BAN2803 [1] - The agreement includes a USD 100 million upfront payment and up to USD 1.25 billion in milestone payments, with tiered low double-digit royalties on global product sales [1][2] - Bristol Myers Squibb will be solely responsible for the development and commercialization of BAN1503 and BAN2803 worldwide, while BioArctic retains an option to co-commercialize in the Nordic region [2] Technology and Program Overview - The PyroGlu-Aβ antibody program targets a specific truncated, pyroglutamate-modified form of amyloid-beta, which is highly prone to aggregation and contributes to Alzheimer's disease symptoms [3] - BAN2803 incorporates BioArctic's BrainTransporter technology, which utilizes the transferrin receptor (TfR) to optimize brain delivery of biotherapeutics across the blood-brain barrier [4] - The BrainTransporter technology has potential applications in various therapy areas for delivering biologic molecules, offering future partnering opportunities for BioArctic [5][8] Strategic Implications - The agreement with Bristol Myers Squibb marks the first license agreement involving BioArctic's BrainTransporter technology, specifically for PyroGlu-Aβ antibody treatments [5] - BioArctic retains all other rights to the BrainTransporter platform, which is being applied to several in-house drug projects and could be part of future collaborations [5][8] - The partnership aligns with Bristol Myers Squibb's strategy to strengthen and diversify its neuroscience portfolio, leveraging innovative approaches like the BrainTransporter technology [5] Company Background - BioArctic is a Swedish biopharma company focused on innovative treatments for neurodegenerative diseases, including Alzheimer's, Parkinson's, and ALS [9] - The company co-developed Leqembi (lecanemab), the first drug proven to slow Alzheimer's progression, in partnership with Eisai [9] - BioArctic's research portfolio includes multiple projects utilizing its proprietary BrainTransporter technology to enhance treatment efficacy by actively transporting antibodies across the blood-brain barrier [9]