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A $10M-upfront licensing option that hands Eli Lilly worldwide rights to AlzeCure's preclinical Alzheimer's candidate ACD680, an oral gamma-secretase modulator, for over $1 billion in potential milestones plus royalties—a classic early-stage biobucks bet where nearly all the value depends on clinical success still years away.
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AlzeCure Pharma entered a global collaboration and out-licensing agreement granting Eli Lilly worldwide rights to Alzstatin ACD680, a preclinical oral gamma-secretase modulator for Alzheimer's disease, announced June 9, 2026. AlzeCure receives $10 million upfront and is eligible for milestone payments exceeding $1 billion plus tiered mid-single-digit royalties. ACD680 modulates amyloid processing to lower aggregation-prone Abeta42, adding an oral small-molecule approach to Lilly's neuroscience pipeline. Closing is subject to Swedish foreign-direct-investment clearance.
Eli Lilly licenses worldwide rights to AlzeCure's preclinical oral gamma-secretase modulator Alzstatin ACD680; $10M upfront, >$1B milestones, tiered mid-single-digit royalties.
Closing subject to Swedish foreign-direct-investment (FDI) clearance.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Eli Lilly and Company / AlzeCure Pharma AB (this deal) | 2026 | $1.0B | 54 |
| 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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