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Lilly partners with AC Immune for Alzheimer's treatment

The logo of Lilly is seen on a wall of the Lilly France company unit, part of the Eli Lilly and Co drugmaker group, in Fegersheim near Strasbourg, France, February 1, 2018. REUTERS/Vincent Kessler/Files

(Reuters) - Eli Lilly & Co and AC Immune SA have agreed to jointly develop a potential treatment for Alzheimer's disease.

Under the terms of the deal, AC Immune will receive an upfront payment of 80 million Swiss francs ($80.47 million) and $50 million in exchange for a note convertible to equity at a premium, the companies said on Wednesday.

($1 = 0.99 Swiss francs)

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Maju Samuel)