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GEN News Highlights : Dec 7, 2006

AC Immune and Genentech Ink Alzheimer’s Research Agreement Worth Up to $300M

Anti-beta-amyloid antibodies generated by SupraAntigen technology to be investigated as potential treatment.

AC Immune and Genentech will work together to develop anti-beta-amyloid antibodies for Alzheimer’s and other human diseases, under an exclusive global license agreement and research collaboration . AC Immune has developed conformation-specific antibodies against beta-amyloid generated by its SupraAntigen™ technology.

Under the terms of this agreement, Genentech will provide funding for a multiyear collaborative research program and will cover all development and clinical costs of the lead antibody and subsequent antibody candidates. Genentech will make an upfront payment with the potential for a total of over $300 million in payments upon successful completion of clinical and regulatory milestones. Upon commercialization of a product, Genentech will pay AC Immune royalties on net sales of AC Immune’s antibodies.