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|12 December, 2018

Lilly partners with AC Immune for Alzheimer's treatment

AC Immune will receive an upfront payment of $80.47mln and $50mln in exchange for a note convertible to equity at a premium

Image used for illustrative purpose. An elderly man rests at the Santovenia Asylum in Havana July 6, 2009.

Image used for illustrative purpose. An elderly man rests at the Santovenia Asylum in Havana July 6, 2009.

REUTERS/Enrique De La Osa

Eli Lilly & Co and AC Immune SA have agreed to jointly develop a potential treatment for Alzheimer's disease.

Under the terms of the deal, AC Immune will receive an upfront payment of 80 million Swiss francs ($80.47 million) and $50 million in exchange for a note convertible to equity at a premium, the companies said on Wednesday.

($1 = 0.99 Swiss francs)

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(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Maju Samuel) ((saumya.joseph@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 2290; Reuters Messaging: saumya.joseph.thomsonreuters.com@reuters.net))

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