Swiss-based biopharmaceutical company AC Immune has entered into a second exclusive worldwide license agreement and research collaboration with Genentech, a member of the Roche Group, for research, development and commercialization of AC Immune's anti-Tau antibodies for the potential treatment of Alzheimer's disease and other neurodegenerative diseases.

AC Immune will receive an undisclosed upfront payment and is eligible to receive research, development and commercialization milestone payments totaling more than $418 million for Alzheimer’s disease and other indications. Additionally, AC Immune is eligible to receive royalties on net sales of products resulting from the collaboration. AC Immune will work in partnership with Genentech to identify and formulate several pre-clinical candidates. Genentech will have global responsibility for pre-clinical and clinical development, manufacturing and commercialization of antibodies resulting from the collaboration.

"This second licensing deal gives us financial security to continue AC Immune's world-leading efforts to develop disease modifying therapies and diagnostics,” said Martin Velasco, chairman of AC Immune. “We are now recognized as having one of the broadest and most advanced Alzheimer's pipelines in the industry.”