STOCKHOLM, April 20, 2024 /PRNewswire/ -- BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) today announced that BioArctic AB and Eisai Co., Ltd., have entered into a research evaluation agreement regarding BAN2802, a potential new treatment combining BioArctic's proprietary BrainTransporter™ technology with an undisclosed Alzheimer drug candidate. At the end of the collaboration, Eisai will evaluate the data generated and decide if they chose to exercise an option to license BAN2802 for the treatment of Alzheimer's disease.

BioArctic and Eisai have a long-standing collaboration dating back to 2005 regarding the development and commercialization of drugs for the treatment of Alzheimer's disease. This collaboration has led to Leqembi® (lecanemab) - the world's first approved drug^[1] shown to slow the progression of early Alzheimer's disease. The new collaboration will build on the companies' joint knowledge in the field of Alzheimer's disease. Costs for the research evaluation program will be shared and the program will evaluate what could be the next generation disease modifying treatment for Alzheimer's disease.

"I am very happy that our Brain Transporter technology has continued to progress so well and that we have now entered into this first agreement utilizing this platform. I believe that this technology has huge potential to improve many different projects, and support companies in their pursuit of helping people with brain disorders," said Gunilla Osswald, CEO at BioArctic. "Eisai has been a valuable partner to BioArctic during the past two decades, and we are very pleased to extend and deepen our relationship with this new research evaluation agreement on BAN2802. Together, we have been able to deliver lecanemab, the first fully approved disease modifying treatment in Alzheimer's disease in the US, Japan and China, and we look forward to continuing our fruitful collaboration and lead the development of the next generation of drugs to help patients with this devastating disease."

BioArctic's proprietary BrainTransporter technology is a technology that can actively transport biologics across the blood brain barrier into the brain. The technology has the potential to create faster and stronger efficacy of treatments targeted to the brain, while reducing the burden of treatment for both patients and society. The BrainTransporter technology manifests BioArctic's commitment to sustainability by aiming for continuous improvement of clinical and commercial benefit.

This release discusses investigational uses of an agent in development and is not intended to convey conclusions about efficacy or safety. There is no guarantee that such investigational agents will successfully complete clinical development or gain health authority approval.

This information 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 persons below, on April 20, 2024, at 09.40 a.m. CET.

For further information, please contact:
Oskar Bosson, VP Communications and IR
E-mail: oskar.bosson@bioarctic.se
Phone: +46 70 410 71 80

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 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 antibodies 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.se.

^[1] Approved in the US, Japan and China.

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