AC Immune and Genentech enter into second antibody collaboration for Alzheimer’s disease
New antibody program targets Tau protein, and the license agreement potentially is worth more than $418 million
Under the terms of this agreement, AC Immune willreceive an undisclosed upfront payment, but the company is able to say that the deal is potentially worth more than $400 million, as there exist research,development and commercialization milestone payments totaling more than $418 million for Alzheimer´s disease andother indications. Additionally, AC Immune is eligible to receive royalties onnet sales of products resulting from the collaboration.
Under the multiyearjoint research collaboration, AC Immune will work in partnership with Genentechto identify and formulate several preclinical candidates. Genentech will haveglobal responsibility for preclinical and clinical development, manufacturingand commercialization of antibodies resulting from the collaboration.
"This [deal] underlinesGenentech's trust in AC Immune's proprietary technology platform and we areconfident in our joint abilities to develop not only first-in-class but alsobest-in-class medication for one of the biggest healthcare problems of thiscentury," said Prof. Andrea Pfeifer, CEO of AC Immune."We are delighted to continue our excellent relationship with Genentechthrough this second landmark deal to fight Alzheimer's disease."
"This second licensing deal gives us financial securityto continue AC Immune's world-leading efforts to develop disease modifyingtherapies and diagnostics. We are now recognized as having one of the broadestand most advanced Alzheimer's pipelines in the industry," added MartinVelasco, chairman of AC Immune's board of directors.
James Sabry, Genentech's vice president of partnering, noted that "The addition of this anti-Tau program to our CNS pipeline complementsother approaches we are investigating, including crenezumab, which wein-licensed from AC Immune in 2006."