Genentech entered into a worldwide, exclusive licensing agreement and research partnership for AC Immune's anti-beta-amyloid antibodies, for the potential treatment of Alzheimer's disease and other indications. The deal could be worth over $300 million to AC Immune, the companies noted in a statement Thursday.
Under the terms of the agreement, AC Immune will receive an undisclosed upfront payment and is eligible to receive milestone payments of up to $300 million. Additionally, if a product resulting from the collaboration reaches the market for Alzheimer's or other targeted diseases, Genentech will pay royalties on sales of the compounds.
The Swiss biotechnology company will also receive funding for a multi-year collaborative research programme, and Genentech will be responsible for all development and clinical costs.