Genentech inks $300M Alzheimer's antibody deal - San Francisco Business Times:

Genentech inks $300M Alzheimer's antibody deal - San Francisco Business Times:: "San Francisco Business Times - December 7, 2006
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Genentech inks $300M Alzheimer's antibody deal
San Francisco Business Times - 11:01 AM PST Thursday

AC Immune said it entered into a $300 million licensing agreement with Genentech for the development of antibodies for the treatment of Alzheimer's disease and other illnesses.

The Swiss biotech firm will give an exclusive global license to Genentech for the development of antibodies that target a plaque-forming protein known as beta-amyloid, which is believed to be an important target for Alzheimer's disease drugs.

The company did not disclose specific details of the financial arrangements, but said Genentech will make an upfront and milestone payments that could total $300 million.

Genentech (NYSE: DNA) 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.

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.

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