DUBLIN – AC Immune SA's distinctive approach to addressing drug targets associated with Alzheimer's disease has secured more big pharma validation, in the form of a mammoth license agreement with Eli Lilly and Co. covering its preclinical portfolio of small-molecule tau aggregation inhibitors. Lausanne, Switzerland-based AC Immune is banking CHF80 million (US$80.6 million) up front, another CHF50 million from a loan-to-equity instrument and an expected CHF60 million in near-term milestones. It could also earn up to CHF1.7 billion more in development, regulatory and commercial milestones, as well as tiered low double-digit royalties on product sales.