BioArctic and Novartis Enter Collaboration Agreement for BrainTransporter™, Securing $30 Million Upfront Payment Along with Future Milestones and Royalties

Collaboration Agreement: BioArctic AB has entered into a collaboration and license agreement with Novartis Pharma AG to develop a new treatment using BioArctic's BrainTransporter technology for neurodegeneration.

Financial Terms: BioArctic will receive an upfront payment of USD 30 million, with the potential for additional payments up to USD 772 million if Novartis exercises its licensing option.

Research Focus: The initial collaboration involves generating a drug candidate that combines BrainTransporter technology with a proprietary antibody from Novartis, focusing on improving brain uptake and delivery of therapeutic agents.

Broader Implications: This agreement marks the third collaboration utilizing the BrainTransporter technology, which has potential applications across various therapy areas, enhancing BioArctic's future partnering opportunities.