Eli Lilly has entered into a research partnership with BioArctic to advance a novel drug candidate for an unnamed neurodegenerative disease, according to a June 22 announcement. The agreement will see Lilly pay $30 million upfront and up to $770 million in milestone payments to access the Swedish biotech’s BrainTransporter technology. BioArctic is also set to receive tiered mid-single-digit royalties on future global product sales.
BioArctic will combine an undisclosed candidate from Lilly with its BrainTransporter platform, which uses the transferrin receptor to transport therapeutic molecules, including antibodies, into the brain. While neither Kisunla nor Leqembi—two leading anti-amyloid antibodies for Alzheimer’s disease—use this technology, other major pharmaceutical companies have shown interest in it. Bristol Myers Squibb entered into a potential $1.35 billion deal involving BrainTransporter in December 2024, and Novartis made a similar agreement in August 2025.
Lilly’s neuro portfolio features Kisunla, which was approved by the Food and Drug Administration for Alzheimer’s disease in July 2024. Kisunla generated $124 million in revenue during its first quarter on the market, compared to Leqembi's $168 million over the same period. BioArctic originally invented Leqembi and licensed it to Eisai in 2007 while retaining rights to co-commercialize it in Nordic countries; Eisai later partnered with Biogen for commercialization.
Under the new partnership announced Monday morning, Lilly will take full responsibility for developing and commercializing its alliance asset with BioArctic worldwide. The specific target indication remains undisclosed but is confirmed as addressing neurodegeneration.
The deal continues Eli Lilly's active acquisition strategy this year. Earlier this month, Lilly signed another back-loaded agreement with Swedish biotech AlzeCure Pharma worth up to more than $1 billion if all milestones are met. In March, Lilly acquired Centessa Pharmaceuticals for $7.8 billion, gaining cleminorexton—a treatment under investigation for narcolepsy types 1 and 2 as well as idiopathic hypersomnia.
