BioArctic's global license agreement with Bristol Myers Squibb for PyroGlutamate-amyloid-beta antibody program effective after antitrust clearance and closing
BioArctic AB announced the completion of its global license agreement with Bristol Myers Squibb after receiving U.S. Federal Trade Commission clearance. The agreement, initially announced on December 19, 2024, grants Bristol Myers Squibb worldwide development and commercialization rights for BAN1503 and BAN2803, part of BioArctic's PyroGlutamate-amyloid-beta antibody program for Alzheimer's disease.
The deal includes a USD 100 million upfront payment to BioArctic, potential milestone payments up to USD 1.25 billion, and tiered low double-digit royalties on global sales. BioArctic retains Nordic region co-commercialization rights and maintains rights to its BrainTransporter platform technology for other applications.
The PyroGlu-Aβ antibody program targets a specific modified form of amyloid-beta that tends to aggregate and cause Alzheimer's symptoms. BAN2803 incorporates BioArctic's BrainTransporter technology, marking the first license agreement utilizing this platform.
BioArctic AB ha annunciato il completamento del suo accordo di licenza globale con Bristol Myers Squibb dopo aver ricevuto l'approvazione della Federal Trade Commission degli Stati Uniti. L'accordo, inizialmente annunciato il 19 dicembre 2024, concede a Bristol Myers Squibb i diritti di sviluppo e commercializzazione a livello mondiale per BAN1503 e BAN2803, parte del programma di anticorpi PyroGlutamate-amyloid-beta di BioArctic per la malattia di Alzheimer.
L'affare include un pagamento iniziale di 100 milioni di USD a BioArctic, potenziali pagamenti per traguardi fino a 1,25 miliardi di USD, e royalties a doppia cifra bassa su vendite globali. BioArctic mantiene i diritti di co-commercializzazione nella regione nordica e conserva i diritti sulla sua tecnologia BrainTransporter per altre applicazioni.
Il programma di anticorpi PyroGlu-Aβ mira a una forma specifica modificata dell'amyloid-beta che tende ad aggregarsi e causare sintomi di Alzheimer. BAN2803 incorpora la tecnologia BrainTransporter di BioArctic, segnando il primo accordo di licenza che utilizza questa piattaforma.
BioArctic AB anunció la finalización de su acuerdo de licencia global con Bristol Myers Squibb tras recibir la aprobación de la Comisión Federal de Comercio de EE. UU. El acuerdo, anunciado inicialmente el 19 de diciembre de 2024, otorga a Bristol Myers Squibb derechos de desarrollo y comercialización a nivel mundial para BAN1503 y BAN2803, parte del programa de anticuerpos PyroGlutamate-amyloid-beta de BioArctic para la enfermedad de Alzheimer.
El acuerdo incluye un pago inicial de 100 millones de USD a BioArctic, posibles pagos por hitos de hasta 1,25 mil millones de USD, y regalías en doble dígito bajo sobre las ventas globales. BioArctic retiene los derechos de co-comercialización en la región nórdica y mantiene los derechos sobre su tecnología BrainTransporter para otras aplicaciones.
El programa de anticuerpos PyroGlu-Aβ se dirige a una forma modificada específica de amyloid-beta que tiende a agregarse y causar síntomas de Alzheimer. BAN2803 incorpora la tecnología BrainTransporter de BioArctic, marcando el primer acuerdo de licencia que utiliza esta plataforma.
BioArctic AB는 미국 연방 거래 위원회의 승인을 받은 후 Bristol Myers Squibb와의 글로벌 라이센스 계약 완료를 발표했습니다. 이 계약은 2024년 12월 19일에 처음 발표되었으며, Bristol Myers Squibb에게 BioArctic의 알츠하이머병을 위한 PyroGlutamate-아밀로이드 베타 항체 프로그램의 일환으로 BAN1503 및 BAN2803의 전 세계 개발 및 상용화 권리를 부여합니다.
이번 계약에는 BioArctic에 대한 1억 달러의 선불 지급, 최대 12억 5천만 달러의 이정표 지급, 그리고 전 세계 판매에 대한 저수익률의 단계별 로열티가 포함됩니다. BioArctic은 북유럽 지역의 공동 상용화 권리를 유지하며, 다른 응용 프로그램을 위한 BrainTransporter 플랫폼 기술에 대한 권리를 보유합니다.
PyroGlu-Aβ 항체 프로그램은 아밀로이드 베타의 특정 변형된 형태를 목표로 하며, 이는 집합하여 알츠하이머 증상을 유발하는 경향이 있습니다. BAN2803은 BioArctic의 BrainTransporter 기술을 통합하여 이 플랫폼을 활용한 첫 번째 라이센스 계약을 의미합니다.
BioArctic AB a annoncé l'achèvement de son accord de licence mondial avec Bristol Myers Squibb après avoir reçu l'approbation de la Federal Trade Commission des États-Unis. L'accord, annoncé initialement le 19 décembre 2024, accorde à Bristol Myers Squibb des droits de développement et de commercialisation à l'échelle mondiale pour BAN1503 et BAN2803, qui font partie du programme d'anticorps PyroGlutamate-amyloid-beta de BioArctic pour la maladie d'Alzheimer.
L'accord comprend un paiement initial de 100 millions USD à BioArctic, des paiements de jalons potentiels allant jusqu'à 1,25 milliard USD, et des redevances à faible double chiffre sur les ventes mondiales. BioArctic conserve les droits de co-commercialisation dans la région nordique et maintient les droits sur sa technologie BrainTransporter pour d'autres applications.
Le programme d'anticorps PyroGlu-Aβ cible une forme modifiée spécifique de l'amyloïde-bêta qui a tendance à s'agréger et à provoquer des symptômes d'Alzheimer. BAN2803 intègre la technologie BrainTransporter de BioArctic, marquant le premier accord de licence utilisant cette plateforme.
BioArctic AB gab bekannt, dass sie ihren globalen Lizenzvertrag mit Bristol Myers Squibb nach Genehmigung durch die US Federal Trade Commission abgeschlossen hat. Der ursprünglich am 19. Dezember 2024 angekündigte Vertrag gewährt Bristol Myers Squibb weltweit Entwicklungs- und Vermarktungsrechte für BAN1503 und BAN2803, die Teil von BioArctics PyroGlutamat-Amyloid-beta-Antikörperprogramm zur Alzheimer-Krankheit sind.
Das Geschäft umfasst eine einmalige Zahlung von 100 Millionen USD an BioArctic, potenzielle Meilensteinzahlungen von bis zu 1,25 Milliarden USD und gestaffelte zweistellige niedrige Lizenzgebühren auf den weltweiten Umsatz. BioArctic behält die Co-Vermarktungsrechte in der nordischen Region und behält die Rechte an seiner BrainTransporter-Plattformtechnologie für andere Anwendungen.
Das PyroGlu-Aβ-Antikörperprogramm zielt auf eine spezifische modifizierte Form von Amyloid-beta ab, die dazu neigt, sich zu aggregieren und Alzheimer-Symptome zu verursachen. BAN2803 integriert die BrainTransporter-Technologie von BioArctic und stellt den ersten Lizenzvertrag dar, der diese Plattform nutzt.
- Received USD 100 million upfront payment
- Potential additional milestone payments of up to USD 1.25 billion
- Tiered low double-digit royalties on global product sales
- Retained co-commercialization rights in Nordic region
- First successful licensing of BrainTransporter technology platform
- Loss of global development and commercialization control over BAN1503 and BAN2803
- Products still in investigational phase with no guarantee of successful development
Insights
The completion of BioArctic's licensing agreement with Bristol Myers Squibb marks a transformative deal in the Alzheimer's disease space. The
The deal structure is particularly noteworthy for three key reasons:
- The tiered double-digit royalty structure suggests strong confidence in the commercial potential of the PyroGlu-Aβ program, as such terms typically start at
10-12% and can escalate to15-20% based on sales thresholds - The retention of Nordic co-commercialization rights preserves valuable market access in BioArctic's home territory while leveraging BMY's global infrastructure
- This marks the first commercial validation of the BrainTransporter technology platform, which could be transformative for CNS drug delivery beyond just Alzheimer's applications
The PyroGlu-Aβ approach targets a particularly toxic form of amyloid beta that is highly prone to aggregation. This differentiated mechanism, combined with the BrainTransporter technology in BAN2803, could potentially improve upon current anti-amyloid therapies by enhancing brain penetration and target engagement.
Beyond the immediate program, this deal validates BioArctic's platform technology and positions them for additional partnerships across other CNS indications. The BrainTransporter technology could be particularly valuable for delivering various biological drugs across the blood-brain barrier, representing significant untapped potential in neurology drug development.
The partnership with Bristol Myers Squibb, a leading player in neuroscience with extensive development and commercialization capabilities, significantly de-risks the program's advancement. Their expertise in bringing complex biologics to market will be important for navigating the challenging landscape of Alzheimer's drug development.
On December 19, 2024, BioArctic announced that BioArctic had entered into a global license agreement with Bristol Myers Squibb under which Bristol Myers Squibb will become solely responsible for the development and any subsequent commercialization of BAN1503 and BAN2803 and related products worldwide. The agreement was subject to filing and clearance under
BioArctic's PyroGlu-Aβ antibody program consists of novel antibodies targeting a specific truncated, pyroglutamate modified form of amyloid-beta. Monomers of PyroGlu-Aβ are highly prone to aggregate, leading to the formation of harmful aggregates which cause debilitating cognitive and other symptoms in Alzheimer's disease. The agreement includes both the BAN1503 and BAN2803 antibodies. BAN2803 includes BioArctic's BrainTransporter™ technology.
"I am very pleased that we have received clearance, allowing us to proceed with this agreement with Bristol Myers Squibb," said Gunilla Osswald, CEO at BioArctic. "They share our passion for helping patients with Alzheimer's disease and we now have the possibility to explore the BrainTransporter technology's potential to advance and optimize the development of next-generation treatments for Alzheimer's disease."
The agreement with Bristol Myers Squibb is the first license agreement with the BrainTransporter technology. It specifically concerns PyroGlu-Aβ antibody treatments. BioArctic has retained all other rights for use of the BrainTransporter platform. The BrainTransporter technology could be used in a number of different therapy areas for delivery of biologic molecules to the brain, giving BioArctic many potential future partnering opportunities.
This release discusses investigational uses of an agent in development and is not intended to convey conclusions about efficacy or safety. There is no guarantee that such investigational agents will successfully complete clinical development or gain health authority approval.
This information is information that BioArctic AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person below, on February 20, 2025, at 06:30 CET.
For more information, please contact:
Oskar Bosson, Vice President Communications and Investor Relations
Telephone: +46 70 410 71 80
E-mail: oskar.bosson@bioarctic.com
Charlotte af Klercker, Director Communications and Sustainability
Telephone: +46 73 515 09 70
E-mail: charlotte.afklercker@bioarctic.com
About the BrainTransporter™ technology
BioArctic's BrainTransporter technology is a technology for facilitating the passage of biological drugs as for example antibodies into the brain using the transferrin receptor (TfR). Active transport of biotherapeutics across the blood brain barrier can result in broader brain distribution enabling better efficacy, improved safety profile and dosing convenience. The technology is being applied to several in-house drug projects and could become part of future collaborations with other pharma companies.
About BioArctic
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on innovative treatments that can delay or stop the progression of neurodegenerative diseases. The company is the originator of Leqembi® (lecanemab) - the world's first drug proven to slow the progression of the disease and reduce cognitive impairment in early Alzheimer's disease. Leqembi has been developed together with Eisai. BioArctic has a broad research portfolio within Alzheimer's disease, Parkinson's disease, ALS and enzyme deficiency diseases. Several of the projects utilize the company's proprietary BrainTransporter™ technology, which improves the transport of drugs into the brain. BioArctic's B share (BIOA B) is listed on Nasdaq Stockholm Large Cap. For further information, please visit www.bioarctic.com.
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