与百时美施贵宝合作治疗阿尔茨海默病 BioArctic 股价飙升 27%

瑞典生物技术公司 BioArctic AB 宣布与美国制药巨头百时美施贵宝 (BMS) 达成重大合作后，其股价周四飙升超过 27%。

BioArctic AB (publ) (STO:BIOA B) stock soared on Thursday after the Swedish biotech firm announced a major collaboration with U.S. pharmaceutical giant Bristol Myers Squibb (NYSE:BMY).

BioArctic AB (publ) (STO:BIOA B) 股价周四飙升，此前这家瑞典生物技术公司宣布与美国制药巨头百时美施贵宝 (Bristol Myers Squibb) (NYSE:BMY) 进行重大合作。

The partnership will center on two of BioArctic's next-generation Alzheimer's disease programs, BAN1503 and BAN2803.

此次合作将集中在 BioArctic 的两个下一代阿尔茨海默病项目 BAN1503 和 BAN2803 上。

Of particular note is the incorporation of BioArctic's cutting-edge brain transporter technology (BTT) in BAN2803.

特别值得注意的是 BAN2803 中融入了 BioArctic 的尖端脑转运技术 (BTT)。

According to RBC Capital Markets analysts, BTT is a potentially transformative method for targeting amyloid beta plaques in the brain, a key factor in Alzheimer's progression.

加拿大皇家银行资本市场分析师表示，BTT 是一种潜在的变革性方法，可针对大脑中的β淀粉样蛋白斑块，而β淀粉样蛋白斑块是阿尔茨海默病进展的关键因素。

The collaboration will see BMS pay BioArctic an upfront sum of $100 million, with the possibility of an additional $1.25 billion in milestone payments if the projects achieve key developmental and commercial targets.

此次合作中，BMS 将向 BioArctic 支付 1 亿美元的预付款，如果项目实现关键的开发和商业目标，还可能额外支付 12.5 亿美元的里程碑付款。

Furthermore, BioArctic is set to receive low double-digit royalties on future sales if the programs are successful in reaching the market.

此外，如果这些项目成功进入市场，BioArctic 将在未来销售中获得两位数的低特许权使用费。

This partnership is being seen as a major validation of BioArctic's technology, especially its BTT platform, which is designed to improve the delivery and safety profile of Alzheimer's treatments.

此次合作被视为对 BioArctic 技术的重大验证，尤其是其 BTT 平台，该平台旨在改善阿尔茨海默氏症治疗的交付和安全性。

RBC analysts noted that while BioArctic's technology lags behind Roche's trontinemab by a few years, the backing of BMS could allow the company to accelerate the development of its programs and potentially offer a best-in-class solution.

RBC 分析师指出，虽然 BioArctic 的技术落后于罗氏的 trontinemab 几年，但 BMS 的支持可以使该公司加速其项目的开发，并有可能提供一流的解决方案。

One of BioArctic's major innovations is targeting pyroglutamate amyloid beta subtypes, which are highly prone to aggregation and contribute to the formation of harmful plaques in Alzheimer's patients.

BioArctic 的主要创新之一是针对焦谷氨酸淀粉样蛋白 β 亚型，该亚型极易聚集并导致阿尔茨海默氏症患者形成有害斑块。

RBC analysts believe that this focus, combined with the delivery advantages of the BTT platform, could give BioArctic treatments a competitive edge over existing therapies.

RBC 分析师认为，这一重点与 BTT 平台的交付优势相结合，可以使 BioArctic 疗法比现有疗法更具竞争优势。

With BMS's resources and expertise now backing BioArctic's work, the company is poised to challenge larger players in the Alzheimer's treatment market.

现在，凭借 BMS 的资源和专业知识支持 BioArctic 的工作，该公司已准备好挑战阿尔茨海默病治疗市场上的更大参与者。

BioArctic stock closed at SEK 170.00 on Thursday, reflecting a sharp increase in investor confidence.

BioArctic 股票周四收于 170.00 瑞典克朗，反映出投资者信心急剧增强。

RBC Capital Markets maintained its “Outperform” rating on the stock, setting a price target of SEK 340.00, citing the collaboration's potential to create long-term value.

加拿大皇家银行资本市场维持对该股的“跑赢大盘”评级，设定目标价为 340.00 瑞典克朗，理由是此次合作有创造长期价值的潜力。