BioArctic and Bristol Myers Squibb sign global license for PyroGlutamate-amyloid-beta antibody program

BioArctic AB has recently entered into a significant licensing agreement with Bristol Myers Squibb, a leading biopharmaceutical company. This agreement grants Bristol Myers Squibb exclusive global rights to BioArctic's PyroGlutamate-amyloid-beta (PyroGlu-Aβ) antibody program. This program includes two primary antibodies, BAN1503 and BAN2803, the latter of which utilizes BioArctic's innovative BrainTransporter™ technology.

BioArctic is set to receive an upfront payment of USD 100 million as well as potential milestone payments reaching up to USD 1.25 billion. Additionally, the company is entitled to receive tiered royalties on global sales of the products developed under this agreement. While Bristol Myers Squibb will be responsible for the development and commercialization of these antibodies worldwide, BioArctic retains the option to co-commercialize the products in the Nordic region. This agreement is contingent upon regulatory clearance under the US Antitrust legislation.

The PyroGlu-Aβ antibody program developed by BioArctic targets a specific modified form of amyloid-beta, known as PyroGlutamate-amyloid-beta. These monomers are particularly prone to aggregation, forming harmful clusters that are believed to contribute to the cognitive decline and other symptoms associated with Alzheimer's disease.

BAN2803, one of the antibodies included in the agreement, features BioArctic's BrainTransporter technology. This technology addresses the challenge of delivering therapeutic agents across the blood-brain barrier, which typically limits the brain uptake of large molecules such as antibodies and enzymes. The BrainTransporter technology employs the transferrin receptor, a natural transport mechanism, to enhance drug delivery to the brain, potentially improving drug efficacy and reducing side effects.

BioArctic's CEO, Gunilla Osswald, expressed enthusiasm about the partnership with Bristol Myers Squibb, highlighting a shared commitment to addressing the challenges of Alzheimer's disease. She emphasized the potential of the BrainTransporter technology to lead the development of advanced treatments for brain disorders, offering benefits such as faster uptake and lower doses.

Richard Hargreaves, Senior Vice President at Bristol Myers Squibb, remarked on the potential of this collaboration to enhance their neuroscience portfolio. He stressed the importance of innovative approaches like BioArctic's technology in advancing treatments for Alzheimer's disease, a field with significant unmet needs.

This licensing agreement marks the first time BioArctic's BrainTransporter technology has been licensed out. The technology presents numerous opportunities for future partnerships, potentially extending beyond Alzheimer's disease to other therapeutic areas requiring efficient brain delivery of biologics.

BioArctic is recognized for its pioneering work in neurodegenerative diseases, having developed Leqembi®, the first drug shown to slow the progression of early Alzheimer's disease. The company continues to build a diverse research portfolio, including projects targeting Parkinson's disease, ALS, and additional Alzheimer's therapies, many of which incorporate the BrainTransporter technology.

The strategic partnership with Bristol Myers Squibb represents a significant milestone for BioArctic, positioning both companies at the forefront of developing transformative treatments for neurodegenerative diseases.