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Shares of AC Immune (NASDAQ:ACIU) shot up 47% on Monday after the Swiss drug developer announced an option and licensing deal potentially worth over $2B with Japanese drugmaker Takeda (TAK) for its Alzheimer’s drug candidate ACI-24.060.
Under the deal, AC Immune will receive $100M upfront plus up to $2.1B in potential payments related to option exercise and milestones. AC Immune would also be eligible to receive tiered double-digit royalties on worldwide net sales if the drug is approved.
ACI-24.060 is currently in Phase 2 testing. Abeta-PET imaging results from the study are expected in Q2. The drug, an immunotherapy, is aimed at delaying or slowing the progression of Alzheimer’s disease by inducing plaque clearance and inhibiting plaque formation in the brain.
AC Immune also released its Q1 earnings report. While the company reported no revenue, it said it had sufficient capital to fund operations for at least three years.
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