04:15 PM EDT, 08/26/2025 (MT Newswires) -- Novartis ( NVS ) agreed to pay $30 million to BioArctic as part of an option, collaboration and licensing pact for BioArctic's proprietary BrainTransporter technology, aimed at advancing a potential treatment for an undisclosed target in neurodegeneration.

Novartis ( NVS ) will evaluate data from the initial collaboration and decide whether to exercise its option to license a drug candidate, BioArctic said Tuesday in a statement.

If Novartis ( NVS ) exercises the option, BioArctic will be eligible for additional milestone payments of up to $772 million, along with tiered mid-single-digit royalties on future global product sales if the candidate reaches the market, according to the statement.

Novartis ( NVS ) shares rose 1.3% in regular Tuesday trading.

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