STOCKHOLM, April 3, 2019 /PRNewswire/ -- BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) announced today that the company has received a non-diluting grant of MSEK 5 from Sweden's Innovation Agency, Vinnova, for a collaborative research project between industry and academia to develop multi-specific antibodies intended for immunotherapy in central nervous system (CNS) diseases.
The research project involves BioArctic and two academic institutions at Uppsala University, Sweden – the Department of Public Health and Caring Sciences (coordinator), and the Department of Pharmaceutical Bioscience.
The project "Multispecific antibodies with improved efficacy and safety and reduced costs for CNS immunotherapy" has received a total grant of MSEK 10 from Vinnova, shared equally by BioArctic and Uppsala University.
Due to increasing life expectancy, the number of people with dementia and other similar CNS diseases is rising. It is estimated that approximately 30 million people worldwide suffer from Alzheimer's disease today and the number is expected to triple in 30 years. The research project aims to improve immunotherapy for CNS disorders, primarily Alzheimer's disease and Parkinson's disease, by increasing the uptake of therapeutic antibodies into the brain. The focus will be on developing multi-specific antibodies with a transporter to facilitate passage across the blood brain barrier. This innovative technology could potentially be used to treat various diseases of the brain.
"We are grateful for Vinnova's commitment to this important collaboration project between academia and industry, aiming at bringing forward better immunotherapies for all those who are suffering from Alzheimer's or Parkinson's disease", says Project Leader Lars Lannfelt, Senior Professor at the Department of Public Health and Caring Sciences, Uppsala University and one of BioArctic's founders.
For more information, please contact:
Gunilla Osswald, Ph.D., CEO, BioArctic AB
Telephone: + 46-8-695-69-30
Christina Astrén, IR & Communications Director, BioArctic AB
Telephone: + 46-70-835-43-36
This information was submitted for publication at 3:45 p.m. CET on April 3, 2019.
About BioArctic AB
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on disease-modifying treatments and reliable biomarkers and diagnostics for neurodegenerative diseases, such as Alzheimer's disease and Parkinson's disease. The company also develops a potential treatment for Complete Spinal Cord Injury. BioArctic focuses on innovative treatments in areas with high unmet medical needs. The company was founded in 2003 based on innovative research from Uppsala University, Sweden. Collaborations with universities are of great importance to the company together with our strategically important global partners in the Alzheimer (Eisai) and Parkinson (AbbVie) projects. The project portfolio is a combination of fully funded projects run in partnership with global pharmaceutical companies and innovative in-house projects with significant market- and out-licensing potential. BioArctic's B-share is listed on Nasdaq Stockholm Mid Cap (ticker: BIOA B). For more information about BioArctic, please visit www.bioarctic.com.
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