AC Immune jumps on licensing deal with Takeda for Alzheimer's disease treatment

AC Immune SA

13/05/2024 13:29

** Shares of Swiss drug developer AC Immune SA  ACIU.O  rise
45% to $3.35 premarket
    ** Company says it has entered into a licensing deal with
Japan's Takeda Pharmaceutical  4502.T  for ACIU's experimental
immunotherapy targeting Alzheimer's disease
    ** Under the deal, Takeda will receive exclusive option to
license global rights to ACIU's immunotherapy candidate,
ACI-24.060, designed to slow Alzheimer's disease progression
    ** ACIU to receive upfront payment of $100 million upon
closing and is eligible for potential milestone payments of up
to ~ $2.1 billion
    ** ACI-24.060 is designed to clear a toxic
Alzheimer's-linked protein called beta amyloid from the brain -
ACIU
    ** Up to last close, ACIU down ~54% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))