Genentech Inks $300 Million Drug Pact with AC Immune

Genentech, Inc. (San Francisco, CA, www.genentech.com) and AC Immune, Ltd. (Lausanne, Switzerland, www.acimmune.com), a Swiss Biotech company developing therapies against Alzheimer's disease, have entered into an exclusive global license agreement and research collaboration for the development of anti-beta-amyloid antibodies for the potential treatment of Alzheimer's disease and other human diseases.

Genentech, Inc. (San Francisco, CA, www.genentech.com) and AC Immune, Ltd. (Lausanne, Switzerland, www.acimmune.com), a Swiss Biotech company developing therapies against Alzheimer’s disease, have entered into an exclusive global license agreement and research collaboration for the development of anti-beta-amyloid antibodies for the potential treatment of Alzheimer’s disease and other human diseases.

Under the terms of this agreement, Genentech will make an upfront payment to AC Immune, with the potential for a total of over $300 million in payments upon successful completion of clinical and regulatory milestones for Alzheimer’s and additional applications.

Upon commercialization of a product, Genentech will pay AC Immune royalties on net sales of AC Immune’s antibodies. Genentech will provide funding for a multi-year collaborative research program and it will also cover all development and clinical costs of the lead antibody and subsequent antibody candidates.