On Wednesday, AlzeCure published its interim report for the second quarter, showing a net profit of just over SEK 80 million, compared with a loss of nearly SEK 10 million in the same period last year.
The reason the biotech has been able to turn to profit is the collaboration and out‑licensing agreement AlzeCure entered into in June with pharma giant Eli Lilly regarding the Alzheimer candidate ACD680. The deal included an upfront payment of USD 10 million and potential development and commercial milestone payments totaling more than USD 1 billion, excluding royalties.
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