The partnership concerns a potential treatment in the field of neurodegeneration. Initially, BioArctic will develop a new drug candidate that combines its proprietary BrainTransporter technology with an antibody developed by Swiss pharmaceutical giant Novartis.
The agreement grants BioArctic an upfront payment of $30 million, with the possibility of receiving up to an additional $772 million in the future—if Novartis chooses to exercise its option to license the drug candidate. Should that happen, Novartis will assume full responsibility for the global development and commercialization of the drug candidate.
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