AC Immune Grants Takeda Option for ACI-24.060

TL;DR

AC Immune inks deal with Takeda for ACI-24.060, potential big payday ahead.

AI Summary

On May 13, 2024, AC Immune SA entered into an Option and License Agreement with Takeda Pharmaceuticals, USA, Inc. This agreement grants Takeda an option to obtain an exclusive license for the development, manufacturing, commercialization, and exploitation of AC Immune's ACI-24.060 and other related active immunotherapies. The specific financial terms of this option and potential future licensing are not detailed in this filing.

Why It Matters

This agreement could lead to significant future revenue for AC Immune if Takeda exercises its option and successfully commercializes the ACI-24.060 therapy.

Risk Assessment

Risk Level: medium — The success of this agreement is contingent on Takeda exercising its option and the subsequent development and commercialization success of ACI-24.060, which carries inherent clinical and market risks.

Key Players & Entities

• AC Immune SA (company) — Registrant
• Takeda Pharmaceuticals, USA, Inc. (company) — Counterparty to agreement
• ACI-24.060 (drug_candidate) — Subject of the option and license agreement
• May 13, 2024 (date) — Date of agreement

FAQ

Key Financial Figures

• $100 million — o pay the Company an upfront payment of $100 million. If Takeda exercises the Option and the
• $2.1 billion — eligible to receive up to approximately $2.1 billion in aggregate. The Company is also entit

Filing Documents

• dp211110_6k.htm (6-K) — 16KB
• dp211110_ex9901.htm (EX-99.1) — 37KB
• image_002.jpg (GRAPHIC) — 2KB
• image_001.jpg (GRAPHIC) — 3KB
• 0000950103-24-006573.txt ( ) — 62KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 13, 2024 Commission file number: 001-37891 AC IMMUNE SA (Exact Name of Registrant as Specified in Its Charter) EPFL Innovation Park Building B 1015 Lausanne, Switzerland (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F On May 13, 2024, AC Immune SA (the “ Company ”) entered into an option and license agreement (the “ Option and License Agreement ”) with Takeda Pharmaceuticals, USA, Inc. (“ Takeda ”). Under the Option and License Agreement, the Company granted Takeda an option (the “ Option ”) to obtain an exclusive license to certain patents and know-how to develop, manufacture, commercialize and otherwise exploit ACI-24.060 and any other active immunotherapy controlled by the Company that is directed to Abeta (the “ Exclusive License ”). The Option must be exercised by Takeda within a predetermined number of days after the Company’s delivery of certain data relating to the ABATE Phase 1b/2 clinical trial in Alzheimer’s Disease and in Down Syndrome. The Exclusive License will not be effective unless Takeda exercises the Option and upon the satisfaction of customary closing conditions (the “ Option Effective Date ”). If Takeda does not exercise the Option before the end of the time period described above, the Option and License Agreement will automatically terminate. Pursuant to the Option and License Agreement, Takeda is required to pay the Company an upfront payment of $100 million. If Takeda exercises the Option and the Option Effective Date occurs, Takeda is required to pay the Company a one-time Option exercise payment in the low-to-mid nine-figure range. With the Option exercise payment and additional potential development, commercial and sales-based milestones, the Company would be eligible to receive up to approximately $2.1 billion in aggregate. The Company is also entitled to tiered royalties in the mid-to-high teens percentages on worldwide net sales. Under the terms of the Option and License Agreement, Takeda will perform certain CMC development activities relating to ACI-24.060 at its own cost. From and after the Option Effective Date, Takeda agrees to use commercially reasonable efforts to develop, obtain regulatory approval for, and commercialize, at least one licensed product in the U.S. If Takeda exercises the Option, the Option and License Agreement will terminate on the date of expiration of the last royalty term. Each party has the right to terminate the Option and License Agreement (a) in the event of the other party’s uncured material breach or (b) upon certain insolvency events of the other party. Takeda may terminate the Option and License Agreement (i) immediately if Takeda in good faith determines it is not advisable for Takeda to continue to develop or commercialize one or more licensed products due to safety concerns or (ii) for any reason with 90 days’ written notice to the Company. This report on Form 6-K (but not Exhibit 99.1 hereto) shall be deemed to be incorporated by reference into the registration statements on Form F-3 (File Nos. 333-227016, 333-249655, 333-255576 and 333-277940) and the registration statements on Form S-8 (File Nos. 333-213865, 333-216539 and 333-233019) of AC Immune SA and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished. EXHIBIT INDEX Exhibit Number Description 99.1 Press Release, dated May 13, 2024 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AC IMMUNE SA By: /s/ Andrea Pfeifer Name: Andrea Pfeifer Title: Chief Executive Officer By: /s/ Christopher Roberts Name: Christopher Roberts Title: Chief Financial Officer Date: May 13, 2024

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View this 6-K filing on SEC EDGAR