BioArctic reported U.S. Food and Drug Administration approval for Leqembi Iqlik, a subcutaneous autoinjector used as a weekly initiation treatment for patients with early Alzheimer’s disease, followed by its U.S. launch in August. The Swedish biotech also signed a research and collaboration agreement with Eli Lilly and Company to combine BioArctic’s proprietary BrainTransporter technology, designed to transport antibodies across the blood-brain barrier, with an undisclosed Lilly drug candidate targeting neurodegeneration. BioArctic will receive a USD 30 million upfront payment, with potential milestone payments of up to USD 770 million, tiered royalties at a mid-single-digit percentage rate and a total agreement value of up to USD 800 million plus royalties. Eli Lilly will be responsible for global development and commercialization. Eisai forecast fiscal 2026 Leqembi sales of JPY 143.5 billion, approximately SEK 8.4 billion, representing 63% growth from the prior year. BioArctic’s second-quarter net revenue declined to SEK 247.5 million from SEK 392.1 million, while Leqembi royalty income rose to SEK 179.4 million from SEK 162.5 million and operating profit fell to negative SEK 6.5 million. Data presented at the Alzheimer’s Association International Conference in London showed that more than 75% of patients in the LEADER study remained stable and nearly 7% improved after an average of 17 months of treatment. BioArctic separately began an oncology collaboration with Mesenkia Therapeutics focused on an antibody-based glioblastoma treatment and expects to begin Phase 2b studies of exidavnemab in multiple system atrophy and Parkinson’s disease-related dementia in the first half of 2027.