BioArctic AB Announces Novartis Terminates Their 2025 Option, Collaboration And License Deal; BioArctic To Retain Full $30M Upfront Payment
Benzinga Newsdesk 17 hours ago
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BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) today announced that Novartis Pharma AG has notified BioArctic that it has decided to terminate the Option, Collaboration and License Agreement entered into in August 2025
BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) today announced that Novartis Pharma AG has notified BioArctic that it has decided to terminate the Option, Collaboration and License Agreement entered into in August 2025 to explore a potential new treatment combining BioArctic's proprietary BrainTransporter™ technology with an undisclosed Novartis proprietary antibody.
The termination is the result of a Novartis decision to discontinue the program, unrelated to BioArctic's BrainTransporter technology.
BioArctic will retain the full USD 30 million upfront payment and, as a result of the termination, will recognize the remaining unrecognized portion as revenue in 2026.