Leqembi creator to work with Bristol Myers in $1.3 billion deal
New York pharma giant Bristol Myers Squibb (NYSE: BMY) is getting into Alzheimer’s in a big way, snapping up global rights to an antibody program from BioArctic (Nasdaq: BIOA B).
The Alzheimer’s pioneer, which partnered with Eisai (TYO: 4523) on arguably the first ever major breakthrough in the disease, Leqembi (lecanemab), will be in line for up to $1.3 billion, including $100 million upfront from BMS.
The agreement covers two pre-clinical drug candidates, BAN1503 and BAN2803, with the latter incorporating BrainTransporter technology for enhanced brain delivery. BMS will lead development and commercialization globally, while BioArctic retains co-marketing rights in Nordic countries.
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