Eli Lilly entered a research and collaboration agreement with Swedish biopharma firm BioArctic. The partnership combines an undisclosed Lilly drug candidate for neurodegeneration. It uses BioArctic's proprietary BrainTransporter technology. This technology helps drugs cross the blood-brain barrier.
Lilly will make an upfront payment of $30 million to BioArctic. BioArctic is eligible for up to $770 million in future milestone payments. It will also receive tiered mid-single-digit royalties on global sales. BioArctic will generate the new drug candidate. Lilly assumes full responsibility for global development and commercialization.