AC Immune acquires AFFiRiS’ Specific Active Immunotherapy (SAIT) anti-alpha-synuclein programs targeting neurodegenerative diseases
July 27 2021 - 8:00AM
AFFiRiS AG, a clinical-stage biotechnology company that has been
engaged in the development of novel disease-modifying Specific
Active Immunotherapies (SAITs), today announced that AC Immune SA
(NASDAQ: ACIU), a clinical-stage biopharmaceutical company
pioneering precision medicine for neurodegenerative diseases, is
acquiring AFFiRiS’ anti-alpha-synuclein programs targeting
neurodegenerative diseases caused by misfolded forms of human
self-proteins. All acquired programs are based on AFFiRiS´
AFFITOME® technology.
The all-stock acquisition is valued at USD 58.7
million. Under the terms of the agreement, AC Immune is acquiring
all of AFFiRiS´ assets and underlying intellectual property related
to active vaccine candidates targeting alpha-synuclein and USD 5
million in cash for 7.1 million shares of AC Immune common stock
based on a price of USD 8.26 per common share.
“We are delighted that AC Immune, a company with
complementary active immunotherapies, will further advance our
industry-leading anti-alpha-synuclein vaccine candidate, developed
to slow the progression of disease and help to improve the lives of
patients. On the back of our encouraging published data from Phase
1 clinical studies in Parkinson’s disease and multiple system
atrophy (MSA), and preclinical proof of principle data in dementia
with Lewy bodies (DLB), now was the right time to generate value
from these programs through an asset sale,” commented Noel
Barrett, PhD, CEO of AFFiRiS AG. “The acquisition of these
programs by this pioneer in precision medicine and active
vaccination for neurodegenerative diseases validates our AFFITOME®
technology platform and the development projects based on it.” He
added: “The transaction also allows us to focus on the partnering
for further development of AFFiRiS’ other programs in
cardiometabolic and neurodegenerative disease indications, such as
candidates targeting PCSK9 in hypercholesterolemia and the
monoclonal antibody C6-17 to treat Huntington’s disease.”
“As long-term investors in AFFiRiS, we are
confident that AFFiRiS’ active immunotherapy program will
favourably contribute to AC Immune’s portfolio of transformative
medicines by delivering much needed patient-friendly, highly
innovative disease-modifying therapies to patients suffering from
neurodegenerative diseases,” added Michael
Motschmann, Chairman of AFFiRiS’ Supervisory Board
and General Partner of MIG AG, one of the founding
investors of AFFiRiS.
The acquisition is subject to customary
regulatory approval in Austria and expected to complete at the
beginning of Q4 2021.
About AFFiRiS AG:
AFFiRiS is a clinical-stage biotechnology
company located in Vienna, Austria, with a vision of using the
immune system to identify and target human proteins central to the
development and progression of neurodegenerative and
cardiometabolic diseases, based on its proprietary patented
AFFITOME® technology. The Company’s ultimate goal is to improve the
lives of patients suffering from these diseases by providing
specific immunotherapies.
Following the sale of its SAIT
anti-alpha-synuclein programs to AC Immune in an all-stock
transaction, AFFiRiS will concentrate on partnering activities to
facilitate the further development of its programs in
cardiovascular and neurodegenerative disease indications. AFFiRiS
published positive Phase 1 clinical results with active
immunotherapies targeting PCSK9 to treat the cardiovascular
condition hypercholesterolemia. In addition, AFFiRiS will focus on
partnering activities to enable the further development of the
monoclonal antibody mAB C6-17 targeting mutated huntingtin (mtHTT)
protein, which causes Huntington’s disease. This is a
neurodegenerative, hereditary disease characterized by changes in
personality, cognitive impairment and loss of motor function,
leading to death over a period of 10 to 30 years.
For further information, please visit
www.affiris.com and follow us on LinkedIn and Twitter.
Contact AFFiRiS AG: |
Media
contact: |
Dr. Cornelia Kutzer |
MC Services |
Communication and Business Development |
Julia Hofmann |
E cornelia.kutzer@affiris.com |
P +49 89 210228 0 |
W www.affiris.com |
E affiris@mc-services.eu |
About
SAIT:https://affiris.com/approach/#overview-of-sait
About neurodegenerative
diseases:https://affiris.com/neurodegenerative-diseases
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