Bristol-Myers Squibb(BMY) Prnewswire·2025-02-20 05:49Core Points - BioArctic AB has received clearance from the U.S. Federal Trade Commission to out-license its PyroGlu-Aβ antibody program to Bristol Myers Squibb, with the agreement now closed and an upfront payment of USD 100 million received [1][2] - The global license agreement includes up to USD 1.25 billion in potential 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 and has kept all other rights for the use of its BrainTransporter technology [4] Company Overview - 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 proprietary BrainTransporter technology enhances the delivery of biological drugs across the blood-brain barrier, potentially improving efficacy and safety [7][9] Product Details - 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 BrainTransporter technology [3] - The BrainTransporter technology may have applications in various therapy areas for delivering biologic molecules to the brain, presenting future partnership opportunities for BioArctic [4]