Lilly partners with AC Immune for Alzheimer's treatment

(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)