Sweden-based BioArctic AB (OTCMKTS: BRCTF) has announced a significant licensing agreement with US pharmaceutical giant Bristol-Myers Squibb (BMS, NYSE: BMY). The deal grants BMS global exclusive development and commercialization rights to BioArctic’s PyroGlutamate-amyloid (PyroGlu-Aβ) antibody program, which includes BAN1503 and BAN2803. Under the agreement, BioArctic retains the option to co-commercialize the products in the Nordic region.
Financial Terms and Potential Milestone Payments
As per the deal terms, BioArctic will receive an upfront payment of USD 100 million and is eligible for up to USD 1.25 billion in milestone payments, alongside tiered low double-digit royalties on global product sales. This financial arrangement underscores the value and potential of BioArctic’s PyroGlu-Aβ antibody program.
BAN1503 and BAN2803: Innovative Approaches to Enhancing Antibody Delivery
BAN1503 is a PyroGlu-Aβ antibody, while BAN2803, also targeting PyroGlu-A β, leverages BioArctic’s BrainTransporter technology to enhance antibody delivery across the blood-brain barrier. This partnership marks BioArctic’s first licensing deal involving its proprietary technology, indicating a significant step forward in the development and commercialization of these innovative therapies.-Fineline Info & Tech
