Pharma BD Deal Intelligence

Eli Lilly and Company / AC Immune SA

2026 · Licensing/Option · Complete

AC Immune and Eli Lilly amended their 2018 license and collaboration agreement covering Morphomer Tau aggregation inhibitor small molecules for Alzheimer's disease and other neurodegenerative diseases. The amendment extends the research collaboration to cover new lead Tau Morphomer candidates and potential back-up compounds. AC Immune receives a CHF 10M upfront payment plus a milestone payment on Phase 1 dosing, in addition to milestones under a prior amendment, and remains eligible for further development, regulatory and commercial milestones of more than CHF 1.7B plus tiered low-double-digit royalties. IND-enabling studies were planned to begin in H1 2026. Values stated in CHF in the source; no USD conversion applied.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

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