More milestones for AC Immune in Lilly Morphomer Tau partnership
As shares are falling around the world due to the coronavirus pandemic, those of Swiss clinical-stage biotech firm AC Immune (Nasdaq: ACIU) were up 14.14% at $5.41 by mid-morning, after the company updated on its collaboration with Eli Lilly (NYSE: LLY).
AC Immune said it will receive a second milestone payment of 10 million Swiss francs ($10.1 million) from Lilly on or before March 31, 2020, related to development progress in the small molecule Morphomer Tau aggregation inhibitor program.
The multi-year collaboration agreement between Lilly and AC Immune was originally announced in December 2018 and focuses on the broad development of Morphome Tau aggregation inhibitors for Alzheimer’s disease (AD) and other neurodegenerative diseases.
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