Pharma BD Deal Intelligence
In May 2024 Takeda and AC Immune (Nasdaq: ACIU) signed an exclusive worldwide option and license agreement for AC Immune's anti-amyloid-beta active immunotherapy portfolio, led by ACI-24.060 in the Phase 1b/2 ABATE study in prodromal Alzheimer's disease and in adults with Down syndrome-associated AD. AC Immune received $100M upfront and is eligible for an option-exercise fee plus development, commercial and sales milestones of up to ~$2.1B (~$2.2B total), plus tiered double-digit royalties. As of mid-2026 the deal remains in its pre-option phase: Takeda has not yet exercised its option, and AC Immune is still conducting and funding the ABATE trial. On April 30, 2026, AC Immune triggered a $12M Takeda milestone by dosing the first patients in the final ABATE Cohort AD4 (36 prodromal-AD patients, 12-month treatment + 6-month follow-up). The pivotal near-term catalyst is the 12-month interim readout from Cohorts AD1/AD2/AD3 (74 patients) expected in Q2 2026, which is expected to inform Takeda's option-exercise decision. Upon exercise, Takeda would conduct and fund all further development and own global regulatory and commercialization rights.