AC Immune To Earn Milestone From Lilly For Alzheimer's Drug
Zacks Investment Research | Sep 23, 2019 01:22AM ET
AC Immune SA (NASDAQ:ACIU) announced that it will receive a milestone payment of 30 million Swiss francs ($30.3 million) from pharma giant Eli Lilly (NYSE:LLY) on or before Oct 7, 2019 under its collaboration agreement with the latter for the initiation of the phase I study on ACI-3024. The candidate is a first-in-class, investigational, oral, small molecule tau morphomer inhibitor being developed for the treatment of patients with Alzheimer’s disease (AD) and other neurodegenerative disorders.
AC Immune is due to receive a second milestone fee of a similar amount in the first quarter of 2020 linked to achievement of further development milestones.
In July this year, AC Immune dosed the first patient in the phase I study of ACI-3024 for treating AD, characterized by the presence of pathological tau aggregates. The placebo controlled, sequential single and multiple ascending dose study will assess the safety, tolerability, pharmacokinetics and pharmacodynamics of ACI-3024 in healthy volunteers.
Shares of AC Immune have plunged 43% so far this year, underperforming the Zacks Investment Research
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