STOCKHOLM, Nov. 20, 2023 /PRNewswire/ -- BioArctic AB's (publ) (NASDAQ Stockholm: BIOA B) invention lecanemab (LEQEMBI®), partnered with Eisai, was awarded the Best New Drug and the award for the Clinical Advance of the Year at the Scrip Awards 2023.
The Scrip Awards celebrate the best innovations and achievements of the international biopharma industry.
The award for Best New Drug recognizes excellence in pharmaceutical development and celebrates lecanemab as the first and only treatment approved in Japan and the United States shown to reduce the rate of disease progression and to slow cognitive and functional decline, which acts on the underlying pathology of Alzheimer's disease.
The award for Clinical Advance of the Year recognizes the success of a new drug product in a clinical trial that is expected to lead to an advance in healthcare. It was awarded for the success of the Phase 3 Clarity AD study of lecanemab.
"It is a great honor to celebrate these prestigious acknowledgements together with our partner and to see how more than 20 years of research now is paying off," says Gunilla Osswald BioArctic CEO. "It is exciting being part of the paradigm shift in the treatment of Alzheimer's disease and bringing real hope to millions of patients affected."
Eisai serves as the lead of LEQEMBI development and regulatory submissions globally with both Eisai and Biogen co-commercializing and co-promoting the product and Eisai having final decision-making authority. BioArctic has the right to commercialize lecanemab in the Nordic region and currently Eisai and BioArctic are preparing for a joint commercialization in the region.
The information was released for public disclosure, through the agency of the contact persons below, on November 20, 2023, at 08.30 a.m. CET.
Please see full Prescribing Information for LEQEMBI, including Boxed WARNING, in the United States.
For further information, please contact:
Oskar Bosson, VP Communications and IR
E-mail: oskar.bosson@bioarctic.se
Phone: +46 70 410 71 80
Jiang Millington, Director Corporate Communication and Social Media
E-mail: jiang.millington@bioarctic.se
Phone: +46 79 33 99 166
About the collaboration between BioArctic and Eisai
Since 2005, BioArctic has a long-term collaboration with Eisai regarding the development and commercialization of drugs for the treatment of Alzheimer's disease. The most important agreements are the Development and Commercialization Agreement for the lecanemab antibody, which was signed 2007, and the Development and Commercialization agreement for the antibody LEQEMBI back-up for Alzheimer's disease, which was signed 2015. In 2014, Eisai and Biogen entered into a joint development and commercialization agreement for lecanemab. Eisai is responsible for the clinical development, application for market approval and commercialization of the products for Alzheimer's disease. BioArctic has the right to commercialize lecanemab in the Nordic region under certain conditions and is currently preparing for commercialization in the Nordics together with Eisai. BioArctic has no development costs for lecanemab in Alzheimer's disease and is entitled to payments in connection with regulatory approvals, and sales milestones as well as royalties on global sales.
About BioArctic AB
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on disease-modifying treatments for neurodegenerative diseases, such as Alzheimer's disease, Parkinson's disease and ALS. BioArctic focuses on innovative treatments in areas with high unmet medical needs. The company was founded in 2003 based on innovative research from Uppsala University, Sweden. Collaborations with universities are of great importance to the company together with its strategically important global partner Eisai in Alzheimer disease. This collaboration has resulted in the world's first fully approved disease-modifying treatment for Alzheimer's disease. The project portfolio is a combination of fully funded projects run in partnership with global pharmaceutical companies and innovative in-house projects with significant market and out-licensing potential. BioArctic's Class B share is listed on Nasdaq Stockholm Large Cap (ticker: BIOA B). For more information about BioArctic, please visit www.bioarctic.com.
The following files are available for download:
https://mb.cision.com/Main/9978/3878735/2439986.pdf | Lecanemab winner in two categories at The Scrip Awards 2023 |
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