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and Lilly Announce License and Collaboration Agreement
agreement focuses on Morphomer tau aggregation inhibitors, for the potential treatment
of Alzheimer’s disease and other neurodegenerative diseases.|
Immune to receive an initial upfront payment of CHF80 million and will be eligible for
CHF60 million in potential near-term development milestones, up to approximately CHF1.7
billion in other potential development, regulatory and commercial milestones, and low
double-digit royalties. |
to purchase $50 million note, convertible to equity position in AC Immune.|
Switzerland, and Indianapolis, IN, USA, December 12, 2018 – AC Immune SA (NASDAQ: ACIU) and Eli Lilly and Company (NYSE:LLY)
today announced that the two companies have signed a license and collaboration agreement to research and develop tau aggregation
inhibitor small molecules for the potential treatment of Alzheimer’s disease (AD) and other neurodegenerative diseases.
The collaboration combines AC Immune’s proprietary MorphomerTM platform technology with Lilly’s clinical
development expertise and commercial capabilities in central nervous system disorders. The collaboration will focus primarily
on AC Immune’s lead molecule, ACI-3024, which has demonstrated tau aggregation inhibition in preclinical models.
terms of the agreement, AC Immune will receive an upfront payment of CHF80 million as well $50 million in exchange for a note,
convertible to equity at a premium. AC Immune is also eligible to receive CHF60 million in potential near-term development milestones,
as well as other potential development, regulatory and commercial milestones up to approximately CHF1.7 billion, and tiered royalty
payments in the low double digits.
will conduct the initial Phase 1 development of the Morphomer tau aggregation inhibitors, while Lilly will fund and conduct further
clinical development. Lilly will receive worldwide commercialization rights for the tau aggregation inhibitors in the area of
Alzheimer’s disease. AC Immune has retained certain development rights in orphan indications and co-development and co-promotion
options in certain indications outside AD.
Pfeifer, CEO of AC Immune, said: “This landmark partnership with Lilly is transformational for the future of AC Immune.
Lilly’s substantial experience in neurology, and particularly in Alzheimer’s disease, is a major validation of our
small molecule platform for CNS therapeutics. It also demonstrates the potential of our pre-clinical assets and adds substantial
value to our pipeline. We look forward to working closely with Lilly in this exciting field over the coming years.”