“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,” says Gunilla Osswald, CEO at BioArctic.

Under the collaboration, BioArctic will generate a new drug candidate combining the BrainTransporter technology with a Lilly proprietary molecule. Lilly will assume full responsibility for the global development and commercialization of the drug candidate and related products.

USD 30 million in upfront payment

As part of the agreement, BioArctic will receive USD 30 million in upfront payment.

In addition to the upfront payment, BioArctic will be eligible to receive additional milestone payments of up to USD 770 million. BioArctic will also be entitled to tiered mid-single digit royalties on future global product sales if the product reaches the market. 

BrainTransporter technology

This agreement is the fourth collaboration BioArctic has entered into with partners using the BrainTransporter technology. BioArctic retains all rights for use of the BrainTransporter platform outside of the scope of these four agreements. The BrainTransporter platform can be used in a multitude of different therapy areas for delivery of biologics and other modalities to the brain, giving BioArctic many potential future partnering opportunities.