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AC Immune Announces Strategic Acquisition of Industry-leading Parkinson’s Disease Vaccine Candidate and Equity Investment Led by Athos Service GmbH
All-stock transaction maintains AC Immune’s strong cash position USD 25 million private placement led by premier investor Athos Service GmbH Transactions
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[{"type":"text","content":"All-stock transaction maintains AC Immune’s strong cash position USD 25 million private placement led by premier investor Athos Service GmbH Transactions expand and accelerate AC Immune’s therapeutic development in Parkinson’s disease AC Immune to immediately launch clinical development of acquired vaccine into an adaptive, biomarker-based Phase 2 study in Parkinson’s disease Conference call scheduled today at 8:30 am ET / 2:30 pm CET LAUSANNE, Switzerland, July 27, 2021 (GLOBE NEWSWIRE) -- AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, today announced that it is acquiring Affiris’ portfolio of therapeutics targeting alpha-synuclein (a-syn), notably Affiris PD01, a clinically-validated active vaccine candidate for the treatment of Parkinson’s disease, as well as cash. The all-stock asset acquisition is valued at USD 58.7 million. AC Immune’s cash position, as well as the Company’s investor base, is also being strengthened by a total of USD 30 million in gross proceeds stemming from the asset acquisition and a parallel financing that are adding Athos Service GmbH (Strüngmann family office), First Capital Partner GmbH (Egger Family Office)1 and MIG Fonds2, the lead investors in Covid-19 vaccine innovator BioNTech SE, as new AC Immune shareholders. Under the terms of the agreement, AC Immune is acquiring all of Affiris’ assets and underlying intellectual property related to active vaccine candidates targeting a-syn and USD 5 million in cash for 7.1 million shares based on a price of USD 8.26 per common share. This share price represents a 10.7% premium compared to the closing price of AC Immune shares as of July 23, 2021. Concurrent with the asset acquisition, AC Immune announced a private placement transaction with a select group of investors led by Athos Service GmbH with additional participation from First Capital Partner GmbH. Gross proceeds from the private placement will be USD 25 million, based on the same financial terms as for the acquisition of the therapeutic anti-a-syn portfolio. Another lead BioNTech and Affiris investor, MIGoFonds, is also becoming a new AC Immune shareholder via its prior ownership of the anti-a-syn assets acquired. In total, AC Immune is issuing 10.1 million shares in conjunction with the asset acquisition and rel...