BioArctic, Lilly Ink Research Alliance

BioArctic AB entered into a research and collaboration agreement with Eli Lilly and Co. regarding a potential new treatment combining BioArctic’s BrainTransporter technology with an undisclosed Lilly drug candidate in neurodegeneration. As part of the agreement, BioArctic will receive $30 million in upfront.

BioArctic will be eligible to receive additional milestone payments of up to $770 million and is eligible to receive royalties on future product sales if the product reaches the market. 

BioArctic will generate a new drug candidate combining the BrainTransporter technology with a Lilly molecule. Lilly will assume full responsibility for the global development and commercialization 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. Lilly shares our ambition to do more for patients with severe neurological disorders, and this collaboration is a testament to that,” said Gunilla Osswald, CEO at BioArctic.