Core Viewpoint - BioArctic AB has successfully received clearance from the U.S. Federal Trade Commission to out-license its PyroGlutamate-amyloid-beta antibody program to Bristol Myers Squibb, resulting in an upfront payment of USD 100 million [1][2]. Group 1: Agreement Details - The global license agreement allows Bristol Myers Squibb to take full responsibility for the development and commercialization of BAN1503 and BAN2803, with the agreement now closed following antitrust clearance [2]. - The agreement includes potential additional payments of up to USD 1.25 billion based on development, regulatory, and commercial milestones, along with tiered low double-digit royalties on global product sales [2]. - BioArctic retains the option to co-commercialize the products in the Nordic region [2]. Group 2: Product Information - The PyroGlu-Aβ antibody program targets a specific truncated form of amyloid-beta, which is associated with Alzheimer's disease [3]. - The agreement encompasses both BAN1503 and BAN2803 antibodies, with BAN2803 utilizing BioArctic's proprietary BrainTransporter™ technology [3]. Group 3: Company Background - BioArctic is a Swedish biopharma company focused on innovative treatments for neurodegenerative diseases, including Alzheimer's and Parkinson's diseases [9]. - The company is known for developing Leqembi® (lecanemab), the first drug proven to slow the progression of early Alzheimer's disease [9]. - BioArctic's BrainTransporter technology enhances the delivery of biological drugs across the blood-brain barrier, potentially improving treatment efficacy and safety [7].
BioArctic's global license agreement with Bristol Myers Squibb for PyroGlutamate-amyloid-beta antibody program effective after antitrust clearance and closing