CEO comments on July 10, 2020 (Interim Report January – June 2020):
“Our ambition is to develop the medicines of the future that improve life for people with disorders of the central nervous system.”
Our operations have progressed according to plan over the past quarter, despite the current COVID-19 pandemic, which is causing great suffering and having a major impact on people and companies around the world. BioArctic is doing everything in its power, together with its partners, to ensure that the pandemic does not affect the important work taking place to develop better treatments for patients with neurodegenerative disorders. So far, BioArctic has been successful – and our projects are continuing to progress well.
That BioArctic is well placed to make a difference for patients is due to the innovative ability and hard work of our skilled employees as well as our successful collaborations. With cash reserves of more than SEK 1 billion, we can make meaningful investments in our fully owned, early stage research projects. At the same time, we have established partnerships with leading global players who finance and conduct the development of our most advanced drug candidates against Alzheimer’s disease and Parkinson’s disease.
We have built up a broad and attractive project portfolio ranging from early research to Phase 3 projects and our documented good reputation as a partner provide excellent opportunities to attract additional global pharma companies as partners. Our business model with successful partnerships with international pharma companies, ensures high quality, effective processes and thereby an increased likelihood that disease-modifying treatments can reach all the way to patients.
Our partner AbbVie has decided to stop recruitment for the Phase 1 Multiple Ascending Dose study of ABBV-0805 in Parkinson’s disease patients. A detailed plan to accelerate the project into Phase 2 in Parkinson’s disease patients is currently being prepared by AbbVie. I am happy to see AbbVie’s commitment to ABBV-0805, and that they are already now preparing for the possibility to enter into the next clinical phase, simultaneously reducing the risk of delays.
Eisai, our partner in the field of Alzheimer’s disease, remains highly committed to our most advanced drug candidate, BAN2401, and we are pleased to report the continual broadening of the development program. During the quarter, the ongoing pivotal Phase 3 study in early Alzheimer’s disease (Clarity AD) has expanded into more countries, including Sweden, which is the origin of this unique antibody. We are also approaching the start of another Phase 3 program – this time aimed at evaluating the therapeutic effects on the progression of preclinical, asymptomatic, Alzheimer’s disease with BAN2401. The earlier comprehensive Phase 2b study showed that BAN2401 has a unique potential in the treatment of early Alzheimer’s disease. If our drug candidate also has a therapeutic effect on preclinical stages the disease, this would significantly improve the future quality of life for patients with Alzheimer’s disease around the world.
Late last year, BioArctic communicated two new projects. Together with our increased efforts in our program to develop a technology to facilitate the passage of antibody drugs into the brain, these research projects have great medical and commercial potential. We look forward to communicating more about these projects as soon as we have secured patents for our research.
For another of our early stage projects, AD1801, we recently announced that we have initiated a research collaboration with the University of Oslo. The project’s mechanism of action is linked to ApoE, which is the most important genetic risk factor in the development of Alzheimer’s disease. An antibody with this mechanism may represent a valuable complement to drug candidates that use other mechanisms of action.
All in all, we can conclude that we have a broad and diversified portfolio of projects that builds on solid science, successful collaborations, and a strong financial position. I am proud to lead an organization with such competent and dedicated coworkers who, despite an ongoing pandemic, continue to work vigorously to generate new treatments that can improve the lives of patients with neurodegenerative disorders and their families.
CEO, BioArctic AB