ECUBLANS, Switzerland—Biotech company AC Immune announced it has entered into an exclusive licensing and research agreement with Genentech for the development of anti-beta-amyloid antibodies. The deal will hinge on the application of the Swiss company's SupraAntigen platform for developing conformation-specific antibodies.

"Out-licensing one of our lead programs to Genentech achieves a major business objective for the company and represents a significant milestone in the 3-year history of AC Immune," said Prof. Andrea Pfeifer, AC Immune CEO. "Genentech is an excellent, and our preferred, collaborator for the antibody program due to its expertise in development and commercialization of antibodies."

For its part, Genentech will provide the small biotech with an upfront payment and the potential for a total of $300 million in payments upon the achievement of clinical and regulatory milestones for Alzheimer's and other indications. AC Immune will also receive royalties on any products that make it to commercialization.