BioArctic expands BrainTransporter reach with Eli Lilly partnership

The collaboration with Eli Lilly grants BioArctic an upfront payment of $30 million to combine its blood-brain barrier crossing technology with an undisclosed drug candidate. While Eli Lilly will retain responsibility for global development and commercialization, the deal includes potential milestone payments of $770 million plus tiered royalties. This expansion follows a busy period for the company, which also entered an oncology research partnership with Mesenkia Therapeutics to explore treatments for glioblastoma.

Financial performance for the second quarter reflected a transition period, with net revenues reaching SEK 247.5 million, bolstered by SEK 179.4 million in royalty income from the Alzheimer’s drug Leqembi. Despite steady growth in global sales, the company reported an operating loss of SEK 6.5 million for the quarter. Meanwhile, clinical momentum remains high; recent data from the LEADER study presented at the Alzheimer’s Association International Conference showed that over 75% of patients treated with Leqembi remained stable after 17 months, with nearly 7% showing cognitive improvement. The FDA’s recent approval of the Leqembi Iqlik subcutaneous autoinjector further simplifies administration, a shift CEO Gunilla Osswald describes as essential for improving patient accessibility and reducing the burden on healthcare systems.