BioArctic collaborator Novartis terminates agreement
STOCKHOLM, Nov. 2, 2026 /PRNewswire/ -- BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) today announced that Novartis Pharma AG has notified BioArctic that it has decided to terminate the Option, Collaboration and License Agreement entered into in August 2025 to explore a potential new treatment combining BioArctic's proprietary BrainTransporter technology with an undisclosed Novartis proprietary antibody.
The termination is the result of a Novartis decision to discontinue the program, unrelated to BioArctic's BrainTransporter technology.
BioArctic will retain the full USD 30 million upfront payment and, as a result of the termination, will recognize the remaining unrecognized portion as revenue in 2026.
BioArctic's BrainTransporter technology facilitates the passage of drugs into the brain using the transferrin receptor (TfR). It can be used in a multitude of different therapy areas for delivery of biologics and other modalities to the brain. To date, BioArctic has entered into five collaboration agreements with partners using the BrainTransporter technology.
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This is information that BioArctic AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person below, on November 2, 2026, at 9:30 pm CET.
For further information, please contact:
Oskar Bosson, Chief Investor Relations & Communications Officer
E-mail: oskar.bosson@bioarctic.com
Telephone: +46 704 107 180
Jenny Ljunggren, External Communications and Investor Relations Manager
E-mail: jenny.ljunggren@bioarctic.com
Telephone: +46 76 013 86 08
About the BrainTransporter technology
BioArctic's BrainTransporter technology is a technology for facilitating the passage of drugs into the brain using the transferrin receptor (TfR). Active transport of medicines across the blood-brain barrier can result in broader brain distribution enabling better efficacy, improved safety profile and dosing convenience. The technology is being applied to several in-house drug projects, as well as external collaborations, and could become part of future collaborations with other pharma companies.
About BioArctic AB
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on innovative treatments that can delay or stop the progression of neurodegenerative diseases. The company invented Leqembi (lecanemab) - the world's first drug proven to slow the progression of the disease and reduce cognitive impairment in early Alzheimer's disease. Leqembi has been developed together with BioArctic's partner Eisai, who are responsible for regulatory interactions and commercialization globally. In addition to Leqembi, BioArctic has a broad research portfolio with antibodies against Parkinson's disease and ALS as well as additional projects against Alzheimer's disease. Several of the projects utilize the company's proprietary BrainTransporter technology, which has the potential to actively transport therapies across the blood-brain barrier to enhance the efficacy of the treatment. BioArctic's B share (BIOA B) is listed on Nasdaq Stockholm Large Cap. For further information, please visit www.bioarctic.com.
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