On November 2, 2026 BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) reported 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.

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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.

BioArctic’s BrainTransporter technology facilitates the passage of drugs into the brain using the transferrin receptor (TfR). It can be used in a multitude of different therapy areas for delivery of biologics and other modalities to the brain. To date, BioArctic has entered into five collaboration agreements with partners using the BrainTransporter technology.

This is information that BioArctic AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person below, on November 2, 2026, at 9:30 pm CET.

(Press release, BioArctic Neuroscience, NOV 2, 2026, View Source [SID1234674045])