BioArctic has announced a new research collaboration with Eli Lilly for a potential new treatment that combines BioArctic's proprietary BrainTransporter technology with an undisclosed Lilly drug candidate in neurodegeneration.
As part of the agreement, BioArctic will receive a $30m upfront payment and be eligible to receive additional milestone payments of up to $770m.
It will also be entitled to tiered mid-single-digit royalties on future global product sales if the product reaches the market.
Under this new agreement, BioArctic will develop a new drug candidate that combines its BrainTransporter technology with a Lilly-proprietary molecule.
Lilly will assume full responsibility for the global development and commercialisation of the drug candidate and related products.
"I'm excited by today's announcement and proud that a large pharmaceutical company sees potential in our proprietary BrainTransporter technology," said Gunilla Osswald, CEO at BioArctic.
Lilly shares our ambition to do more for patients with severe neurological disorders and this collaboration is a testament to that.
This agreement marks BioArctic's fourth collaboration using its BrainTransporter technology, with previous partners including Eisai, Bristol Myers Squibb (for a PyroGlutamate-amyloid-beta antibody programme) and Novartis.
