STOCKHOLM – November 02, 2026 -- BioArctic AB will keep the full USD 30 million upfront payment from Novartis Pharma AG after Novartis terminated their Option, Collaboration and License Agreement, the Nasdaq Stockholm-listed company (BIOA B) announced.
Novartis drops the program, not the technology
The agreement was signed in August 2025. It covered a potential new treatment combining BioArctic's proprietary BrainTransporter technology with an undisclosed Novartis proprietary antibody. Novartis notified BioArctic that it decided to discontinue the program. According to BioArctic, the decision is unrelated to the BrainTransporter technology.
BioArctic books the remaining upfront payment as 2026 revenue
Because of the termination, BioArctic will recognize the remaining unrecognized portion of the USD 30 million upfront payment as revenue in 2026. The company did not disclose the size of that portion.
BrainTransporter portfolio stands at five collaborations
BrainTransporter uses the transferrin receptor (TfR) to move drugs into the brain. BioArctic says it can be applied across multiple therapy areas to deliver biologics and other modalities. The company has entered into five collaboration agreements with partners using the technology to date.
BioArctic released the information under the EU Market Abuse Regulation.