ACI-24 is a vaccine commercialized by AC Immune, with a leading Phase II program in Alzheimer’s Disease. According to Globaldata, it is involved in 4 clinical trials, of which 3 were completed, and 1 is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of ACI-24’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for ACI-24 is expected to reach an annual total of $36 mn by 2037 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
ACI-24 Overview
ACI-24 is under development for the treatment of Alzheimer's disease and Down syndrome. It is administered subcutaneously. The drug candidate is an liposomal anti-abeta (amyloid precursor protein) vaccine developed based on SupraAntigen platform.
AC Immune Overview
AC Immune is a clinical-stage biopharmaceutical company primarily engaged in the development of precision medicine for the diagnosis, treatment, and prevention of neurodegenerative diseases. The company’s main activities involve leveraging its proprietary technology platforms, SupraAntigen and Morphomer, to develop a diverse pipeline of clinical and preclinical product candidates. These products are designed to target established and emerging neurodegenerative pathologies, with a focus on Alzheimer’s disease, Parkinson’s disease, and other neurodegenerative disorders. The company collaborates with industry leaders such as Takeda, Janssen, Life Molecular Imaging, and Lilly to advance its proprietary programs. The company operates globally, with a significant presence in Switzerland and the US. AC Immune is headquartered in Lausanne, Switzerland.
The company reported revenues of (Swiss Francs) CHF14.8 million for the fiscal year ended December 2023 (FY2023), compared to a revenue of CHF3.9 million in FY2022. The operating loss of the company was CHF53.6 million in FY2023, compared to an operating loss of CHF70.9 million in FY2022. The net loss of the company was CHF54.2 million in FY2023, compared to a net loss of CHF70.8 million in FY2022.
For a complete picture of ACI-24’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
