Pharma BD Deal Intelligence
A $2.04B licensing option that gave Eli Lilly rights to AC Immune's anti-tau antibodies for Alzheimer's disease, with $80M upfront against up to $1.96B in milestones—putting nearly all value at risk on clinical success in a historically failure-prone target class.
Eli Lilly and AC Immune sign deal to develop tau-based treatments for Alzheimer disease using Morphomer technology platform.
Eli Lilly inks $2B Alzheimer deal for tau therapies with AC Immune combining Morphomer platform with Lilly CNS expertise.
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Lilly licensed AC Immune's anti-tau antibodies for Alzheimer's disease, paying $80M upfront with up to $1.96B in milestones.
500K US cases/yr · $15.0B Global Alzheimer's therapeutics (projected with anti-amyloid era)
Alzheimer's disease is the most common cause of dementia. Anti-amyloid antibodies (lecanemab, donanemab) have demonstrated disease modification, though clinical benefit remains modest. Tau-targeting therapies are the next frontier.
Symptomatic: cholinesterase inhibitors, memantine. Disease-modifying: lecanemab (Leqembi), donanemab. Tau-targeting approaches in clinical trials. Key players: Eisai/Biogen (Leqembi), Lilly (donanemab/Kisunla), Roche (gantenerumab failed).
Lilly paid $80M upfront for anti-tau small molecules for Alzheimer disease. Up to $1.96B milestones.
Lilly paid CHF10M to expand collaboration. Morphomer candidate approaching Phase 1 IND. Over CHF1.7B in milestones.
8+ year collaboration still active. Lead candidate nearing clinic. Multiple amendments show sustained commitment.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Eli Lilly and Company / AC Immune SA (this deal) | 2017 | $2.0B | 59 |
| Eli Lilly and Company / Boehringer Ingelheim GmbH | 2011 | $444M | 89 |
| Eli Lilly and Company / Loxo Oncology, Inc. | 2019 | $8.0B | 88 |
| Eli Lilly and Company / Applied Molecular Evolution Inc. | 2003 | $400M | 88 |
| Eli Lilly and Company / ICOS Corporation | 2006 | $2.3B | 87 |
| Eli Lilly and Company / Novartis Animal Health | 2014 | $5.4B | 70 |
| Eli Lilly and Company / Incyte Corporation | 2009 | $755M | 69 |
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