Shots:
- BioArctic entered a research and collaboration agreement with Eli Lilly and Company to develop a potential treatment for neurodegenerative diseases by combining BioArctic’s proprietary BrainTransporter technology with an undisclosed Lilly drug candidate
- Under the agreement, BioArctic will generate a new drug candidate incorporating its BrainTransporter platform, while Lilly will assume full responsibility for the global development and commercialization of the resulting therapy
- Financially, BioArctic will receive an upfront payment of $30M and is eligible for up to $770M in additional milestone payments, bringing the total potential deal value to $800M. BioArctic is also entitled to tiered mid-single-digit royalties on future global sales if the product reaches the market
Ref: BioArctic | Image: BioArctic & Lilly | Press Release
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