Bristol Myers Squibb has turned to the source of Leqembi to further its push into Alzheimer’s disease, paying BioArctic $100 million upfront for global rights to two preclinical antibodies.
BioArctic is partnered with Eisai on multiple Alzheimer’s molecules, including Leqembi, but has switched its allegiance for the next two prospects to rattle down its pipeline. BMS secured rights to the two drug candidates, BAN1503 and BAN2803, in return for the upfront fee and up to $1.25 billion in development, regulatory and commercial milestones.
Both antibodies target pyroglutamate-amyloid-beta. Eli Lilly’s Kisunla targets a pyroglutamate form of amyloid beta, as does the candidate at the heart of AbbVie’s $1.4 billion takeover of Aliada Therapeutics.
Like Aliada, BioArctic has applied a technology designed to get antibodies across the blood-brain barrier (BBB) to pyroglutamate-amyloid-beta. BAN2803, but not BAN1503, uses BioArctic’s BrainTransporter technology, hijacking the transferrin receptor to enable transport across the BBB and optimize delivery to the brain. BioArctic linked the technology to a 70-fold jump in amyloid-beta antibody brain exposure.
“It can give a broader distribution in the brain making it possible to reach deeper brain structures. A fast blood-brain barrier transport results in rapid brain exposure and the potential for a fast effect,” BioArctic CEO Gunilla Osswald said on an earnings call last month. “It could also lead to better safety due to lower doses and different distribution in the brain.”
AbbVie and Lilly have access to rival BBB-crossing technologies via agreements with Aliada and Qinotto, respectively. Roche has developed its own Brainshuttle tech, while Eisai has rights to another BioArctic drug candidate, BAN2802, that uses BrainTransporter.
BioArctic’s programs are lagging behind some rivals. Osswald said the most advanced BrainTransporter program could enter the clinic in 2026. BAN2803 is at the forefront of BioArctic’s use of the tech, according to the biotech’s publicly disclosed pipeline.
BMS’ decision to join the race to develop the next generation of anti-amyloid-beta antibodies follows its expansion into Alzheimer’s via its $14 billion Karuna Therapeutics buyout. While Karuna was initially focused on getting Cobenfy to market in schizophrenia, BMS is working to generate phase 3 data in Alzheimer’s psychosis and run registrational trials in Alzheimer’s agitation and cognition.