AC Immune announced on Monday that Switzerland's Roche had terminated its licensing agreement with the biotech company to co-develop a new treatment for Alzheimer's disease.

The Lausanne-based, Nasdaq-listed company said the healthcare giant's decision would not prevent it from pursuing phase 2 development of its immunotherapies, for which it will take over full rights.

Following its $50 million capital increase completed last month, AC Immune believes it is sufficiently funded to continue its activities until 2026.

The partnership with Roche concerned crenezumab, a humanized monoclonal antibody designed to slow the progression of Alzheimer's disease by neutralizing neurotoxic beta-amyloid oligomers.

It also concerned semorinemab, another 'anti-Tau' antibody targeting the N-terminus of the Tau protein, designed to narrow the space between neurons.

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