Genentech and AC Immune:
Exclusive License Agreement
AC Immune, Ltd. enters into an Exclusive Global License Agreement
and Research Collaboration with Genentech, Inc. for Development of
Anti-beta-amyloid Antibodies for the Potential Treatment of
Alzheimer’s Disease and other human Diseases.
Ecublens/Lausanne, Switzerland, December 7, 2006 – AC Immune, Ltd., a
Swiss Biotech Company developing innovative therapies against Alzheimer’s
Disease, today announced that it has entered into an exclusive global license
agreement and research collaboration with Genentech, Inc. for the
development of anti-beta-amyloid antibodies for the potential treatment of
Alzheimer’s Disease and other human diseases. Beta-amyloid constitutes an
important target for disease-modification of Alzheimer’s disease and AC
Immune has developed conformation-specific antibodies against this protein
generated by its SupraAntigenTM Technology.
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 in the field of Alzheimer’s or other human applications. Genentech
will also provide funding for a multi-year collaborative research program and
will cover all development and clinical costs of the lead antibody and
subsequent antibody candidates.
“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, CEO of AC
Immune Ltd. “Genentech is an excellent, and our preferred, collaborator for
the antibody program due to its expertise in development and
commercialization of antibodies”.
“The terms of the deal will provide AC Immune with a solid financial basis
beyond the next three years to develop other programs at full speed”, said
Dr. Armin Ma¨der, CFO of AC Immune.
AC Immune’s proprietary SupraAntigenTM Technology resulted in the
development of an anti-beta-amyloid antibody program with a selected lead
antibody, which has been shown to be highly active in animal disease models
for Alzheimer’s disease. The lead antibody is conformation-specific and
induced the proposed transition from an insoluble to the soluble form of the
plaque forming beta-amyloid protein. This event directly correlated with
memory improvement.
“AC Immune’s technology has proven very effective for the generation of
conformation-specific antibodies that have potential for the treatment of
conformational diseases”, said Dr. Andreas Muhs, CSO of AC Immune.
“We are thrilled that Genentech has taken such an interest in our Alzheimer’s
antibody program”, said Martin Velasco, Chairman of the Board of AC
Immune. “We are hopeful that in collaboration with Genentech we may
develop a potential treatment for Alzheimer’s disease for the benefit of
millions of patients worldwide”.
About AC Immune
AC Immune is a privately held company focusing on the development of
therapies against Alzheimer’s disease, a so-called conformational disease.
AC Immune is using its proprietary immunology platform to develop active
and passive immunotherapies, i.e. vaccine and monoclonal antibodies,
against Alzheimer’s disease, directly reducing the toxic beta-amyloid
plaques in the brain. AC Immune’s proprietary immunology platform
technology brings the ability to generate conformation-sensitive antibodies
for passive and active immune therapies. The company’s products are in the
preclinical stage and the first product will enter clinical Phase I in 2007.
The company was founded in February 2003 in Basel, Switzerland and is
located in the Science Park, PSE, on the Campus of the Swiss Federal
Institute of Technology in Ecublens/Lausanne, Switzerland. |
