AC Immune SA today announced that it raised approximately USD 43.5 million (CHF 42.7 million) in a private financing in which it issued Series E preferred shares to certain institutions and existing shareholders.
AC Immune is a clinical stage Swiss-based biopharmaceutical company focused on neurodegenerative diseases with three product candidates in clinical trials. The Company designs, discovers and develops therapeutic and diagnostic products intended to prevent and modify diseases caused by misfolding proteins. AC Immune’s two proprietary technology platforms create antibodies, small molecules and vaccines to address a broad spectrum of neurodegenerative indications. Alzheimer’s disease (AD) is the largest indication addressed by AC Immune’s products but the company’s therapies are designed to address other neurodegenerative diseases such as Parkinson’s, Down syndrome, and glaucoma as well. The Company’s pipeline features seven therapeutic and three diagnostic product candidates.
The proceeds of the financing, together with existing cash resources, will be used by AC Immune to advance its clinical and pre-clinical therapeutic and diagnostic product pipeline in Alzheimer’s disease and other neurodegenerative diseases.