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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on March 8, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration
No. 333-&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B></B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B><BR>
<B>UNDER THE SECURITIES ACT OF 1933</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AC IMMUNE SA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact Name of Registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 33%; text-align: center; font-size: 8pt; font-weight: bold">Switzerland</TD>
    <TD STYLE="width: 34%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: center; font-size: 8pt; font-weight: bold">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of </FONT><BR>
<FONT STYLE="font-size: 10pt">incorporation or organization)</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer </FONT><BR>
<FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EPFL Innovation Park</B><BR>
<B>Building B</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1015 Lausanne, Switzerland</B></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt">(Address including zip code of Principal Executive Offices) </FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<TR>
    <TD STYLE="width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>AC Immune SA 2016 Stock Option and Incentive Plan</B></FONT></TD></TR>
</TABLE>
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<TR>
    <TD STYLE="vertical-align: top; width: 29%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt">(Full title of the plans)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 31%; font-size: 10pt">&nbsp;</TD></TR>
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    <TD STYLE="width: 100%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><BR>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>National Corporate Research,
Ltd.</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>10 East 40<SUP>th</SUP> Street,
10<SUP>th</SUP> Floor</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10016, USA </B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt">(Name, address and telephone number, including area code, of agent for service)</FONT></TD></TR>
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    <TD STYLE="font-size: 10pt; text-align: center; width: 100%">&nbsp;</TD></TR>
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    <TD STYLE="width: 29%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: center"><B>Copies to</B>:</P></TD>
    <TD STYLE="width: 31%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Richard D. Truesdell, Jr.</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Derek J. Dostal</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Davis Polk &amp; Wardwell LLP</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">450 Lexington Avenue</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, NY 10017</P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%; font-size: 12pt"><FONT STYLE="font-size: 8pt"><B>Large accelerated filer </B></FONT><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD>
    <TD STYLE="width: 37%; font-size: 12pt"><FONT STYLE="font-size: 8pt"><B>Accelerated filer </B></FONT></FONT><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 8pt"><B>Non-accelerated filer </B></FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-size: 8pt"><B>&nbsp;(Do
not check if a smaller reporting company)</B></FONT></TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 8pt"><B>Smaller reporting company </B></FONT></FONT><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt">Title of Securities to be Registered</FONT></TD>
    <TD STYLE="width: 14%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt">Amount to be Registered<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt">Proposed Maximum Offering Price Per&nbsp;Share</FONT></TD>
    <TD STYLE="width: 18%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt">Proposed Maximum&nbsp;Aggregate Offering&nbsp;Price </FONT></TD>
    <TD STYLE="width: 13%; border-top: black 2.25pt double; border-bottom: black 1pt solid; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt">Amount of Registration Fee<SUP>(3) </SUP></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: black 1pt solid; font-size: 10pt">Common Shares, par value CHF 0.02 each, reserved for issuance pursuant to the AC Immune SA 2016 Stock Option and Incentive Plan</TD>
    <TD STYLE="border-right: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">2,057,740</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">$11.95 <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">$24,579,704.30</FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">$2,848.79</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>This Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) covers common shares of CHF 0.02 each par
value (&ldquo;Common Shares&rdquo;), of AC Immune SA (the &ldquo;Registrant&rdquo;) issuable pursuant to the AC Immune SA 2016
Stock Option and Incentive Plan (the &ldquo;Plan&rdquo;). Pursuant to Rule 416(a) under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), this Registration Statement shall also cover any additional Common Shares that become issuable
under the Plan by reason of any share dividend, share split or other similar transaction.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) under the Securities Act on the
basis of the high and low prices reported for a Common Share on the NASDAQ Global Market on March 7, 2017.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Rounded up to the nearest penny.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">PART I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The documents containing the information
specified in Item 1 and Item 2 of Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under
the Securities Act. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">PART II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3. Incorporation of Documents by Reference.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">The following documents are incorporated herein
by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(a) Amendment No. 7 to the Registrant&rsquo;s
Registration Statement on Form F-1 filed with the Commission on September 22, 2016 (Registration No. 333-&#9;211714), which contains
the Registrant&rsquo;s audited financial statements for the latest fiscal year for which such statements have been filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(b) The Registrant&rsquo;s prospectus to be
filed with the Commission pursuant to Rule 424(b) under the Securities Act, relating to the Registrant&rsquo;s Registration Statement
on Form F-1, as amended (Registration No. 333-211714).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(c) The description of the Registrant&rsquo;s
share capital which is contained in the Registrant&rsquo;s Registration Statement Form 8-A (Registration No. 333-211714), dated
September 23, 2016, including any amendments or supplements thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">In addition, all documents subsequently filed
by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing
of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, including any Reports of Foreign Private Issuers on Form 6-K submitted during
such period (or portion thereof) that is identified in such form as being incorporated by reference into this Registration Statement,
shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of the filing
of such documents. The Registrant is not incorporating by reference any documents or portions thereof, whether specifically listed
above or filed in the future, that are not deemed &ldquo;filed&rdquo; with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein, (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Description of Securities.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interests of Named Experts and Counsel.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Not applicable. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6. Indemnification of Directors and Officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Under Swiss law, a corporation
may indemnify its directors or officers against losses and expenses (except for such losses and expenses arising from willful misconduct
or negligence, although legal scholars advocate that at least gross negligence be required), including attorney&rsquo;s fees, judgments,
fines and settlement amounts actually and reasonably incurred in a civil or criminal action, suit or proceeding by reason of having
been the representative of, or serving at the request of, the corporation. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Subject to Swiss law, Article
29 of the Registrant&rsquo;s articles of association provides for indemnification of the existing and former members of the Registrant&rsquo;s
board of directors, executive management, and their heirs, executors and administrators, against liabilities arising in connection
with the performance of their duties in such capacity, and permits the Registrant to advance the expenses of defending any act,
suit or proceeding to members of our board of directors and executive management. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">In addition, under general
principles of Swiss employment law, an employer may be required to indemnify an employee against losses and expenses incurred by
such employee in the proper execution of their duties under the employment agreement with the company. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">The Registrant intends to
enter into indemnification agreements with each of the members of its board of directors and executive officers in the form to
be filed as an exhibit to the Registrant&rsquo;s Registration Statement on Form F-1 filed with the Commission. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">In the underwriting agreement
that the Registrant enters into in connection with the sale of the common shares being registered on the Registrant&rsquo;s Form
F-1, the underwriters will agree to indemnify, under certain conditions, the Registrant, its directors, our officers and persons
who control the Registrant within the meaning of the Securities Act of 1933, as amended, the Securities Act, against certain liabilities.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant,
the Registrant has been advised that, in the opinion of the U.S. Securities and Exchange Commission, such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7. Exemption from Registration Claimed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8. Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-top: 6pt; padding-bottom: 6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit Number</P></TD>
    <TD STYLE="width: 91%; font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">AC Immune SA Articles of Association dated September 25, 2016 (incorporated herein by reference to the Registrant&rsquo;s Registration Statement on Form S-8, filed on September 29, 2016)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Registration Right Agreement (incorporated by reference to the
        Registrant&rsquo;s Registration Statement on Form F-1, filed with the SEC on May 31, 2016)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">5</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Opinion of Vischer AG, Swiss counsel of AC Immune SA, as to the validity of the common shares (filed herewith)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Consent of Vischer AG, counsel of AC Immune SA (included in
        Exhibit 5)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consent of Ernst &amp; Young AG, independent registered public accounting firm (filed herewith)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">24</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Powers of Attorney (included in the signature pages hereto)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">AC Immune SA 2016 Stock Option and Incentive Plan (incorporated by reference to the Registrant&rsquo;s Report on Form 6-K, filed with the SEC on October 13, 2016)</FONT></TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Item
9. Undertakings.</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;The
undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(1)&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(i)&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(ii)&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if,
in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(iii)&nbsp;To
include any material information with respect to the Plans not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><I>provided</I>, <I>however</I>,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section
13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(2)&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(3)&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing this Registration
Statement and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Lausanne, Switzerland on this  8th day of March, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">AC Immune SA</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid">/s/ Andrea Pfeifer</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Andrea Pfeifer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jean-Fabien Monin</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Jean-Fabien Monin</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Administrative Officer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Corporate Research, Ltd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(Authorized Representative in the
United States)</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid">/s/ Colleen A. DeVries</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Colleen A. DeVries</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>SVP on behalf of National Corporate Research, Ltd.</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>


<!-- Field: Page; Sequence: 6 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt; background-color: white">KNOW ALL PERSONS
BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Andrea Pfeifer and Jean-Fabien Monin
as his or her true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him or her and
in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments)
to this Registration Statement and any and all additional registration statements pursuant to Rule&nbsp;462(b) of the Securities
Act of 1933, as amended, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with
the U.S. Securities and Exchange Commission, granting unto said attorneys-in-fact and agent full power and authority to do and
perform each and every act in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his substitutes
may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt; background-color: white">Pursuant to the
requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 28%; text-decoration: underline; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt"><U>Signature</U></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 47%; text-decoration: underline; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt"><U>Title</U></FONT></TD>
    <TD STYLE="vertical-align: top; width: 24%; text-decoration: underline; text-align: center; font-size: 8pt; font-weight: bold"><FONT STYLE="font-size: 10pt"><U>Date</U></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Andrea Pfeifer</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">Chief Executive Officer, Director </FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">March 7, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">Andrea Pfeifer</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">(Principal Executive Officer)</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">/s/ Jean-Fabien Monin</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">Chief Administrative Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">March 6, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid">Jean-Fabien Monin</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;(Principal&nbsp;Financial and Accounting Officer)</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Martin Velasco</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">Martin Velasco</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Chairman and Director</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">March 7, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Director</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">______________, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">Detlev Riesner</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Director</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">______________, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-size: 10pt">Friedrich von Bohlen und Halbach</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Peter Bollman</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Director</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">March 6, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-size: 10pt">Peter Bollman</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Thomas Graney</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Director</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">March 3, 2017</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-size: 10pt">Thomas Graney</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-top: 6pt; padding-bottom: 6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit Number</P></TD>
    <TD STYLE="width: 91%; font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 9%; font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 91%; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">AC Immune SA Articles of Association dated September 25, 2016 (incorporated herein by reference to the Registrant&rsquo;s Registration Statement on Form S-8, filed on September 29, 2016)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Registration Right Agreement
(incorporated by reference to the Registrant&rsquo;s Registration Statement on Form F-1, filed with the SEC on May 31, 2016)</FONT><BR></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">5</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Opinion of Vischer AG, Swiss counsel of AC Immune SA, as to the validity of the common shares (filed herewith)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consent of Vischer AG, counsel
of&nbsp;AC Immune SA (included in Exhibit 5)</FONT><BR></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consent of Ernst &amp; Young AG, independent registered public accounting firm (filed herewith)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">24</FONT></TD>
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Powers of Attorney (included in the signature pages hereto)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">AC Immune SA 2016 Stock Option and Incentive Plan (incorporated by reference to the Registrant&rsquo;s Report on Form 6-K, filed with the SEC on October 13, 2016)</FONT></TD></TR>
</TABLE>

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[{"type": "S-8", "sequence": "1", "filename": "dp71965_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 55465}]
{"company-data": {"conformed-name": "AC Immune SA", "cik": "0001651625", "assigned-sic": "2834", "irs-number": "000000000", "state-of-incorporation": "V8", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-216539", "film-number": "17675519"}, "business-address": {"street1": "EPFL INNOVATION PARK, BUILDING B", "city": "1015 LAUSANNE", "state": "V8", "zip": "00000", "phone": "41 21 345 91 21"}, "mail-address": {"street1": "EPFL INNOVATION PARK, BUILDING B", "city": "1015 LAUSANNE", "state": "V8", "zip": "00000"}}
As filed with the Securities and Exchange
Commission on March 8, 2017
Registration
No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
AC IMMUNE SA
(Exact Name of Registrant as specified
in its charter)
Switzerland
N/A
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
EPFL Innovation Park
Building B
1015 Lausanne, Switzerland
(Address including zip code of Principal Executive Offices)
AC Immune SA 2016 Stock Option and Incentive Plan
(Full title of the plans)
National Corporate Research,
Ltd.
10 East 40
th
Street,
10
th
Floor
New York, New York 10016, USA
(Name, address and telephone number, including area code, of agent for service)
Copies to
:
Richard D. Truesdell, Jr.
Derek J. Dostal
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, NY 10017
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2
of the Exchange Act.
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
x
(Do
not check if a smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered
(1)
Proposed Maximum Offering Price Per Share
Proposed Maximum Aggregate Offering Price
Amount of Registration Fee
(3)
Common Shares, par value CHF 0.02 each, reserved for issuance pursuant to the AC Immune SA 2016 Stock Option and Incentive Plan
2,057,740
$11.95
(2)
$24,579,704.30
$2,848.79
(1)
This Registration Statement on Form S-8 (this "Registration Statement") covers common shares of CHF 0.02 each par
value ("Common Shares"), of AC Immune SA (the "Registrant") issuable pursuant to the AC Immune SA 2016
Stock Option and Incentive Plan (the "Plan"). Pursuant to Rule 416(a) under the Securities Act of 1933, as amended
(the "Securities Act"), this Registration Statement shall also cover any additional Common Shares that become issuable
under the Plan by reason of any share dividend, share split or other similar transaction.
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) under the Securities Act on the
basis of the high and low prices reported for a Common Share on the NASDAQ Global Market on March 7, 2017.
(3)
Rounded up to the nearest penny.
PART I
INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS
The documents containing the information
specified in Item 1 and Item 2 of Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under
the Securities Act. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the "Commission")
and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents are incorporated herein
by reference:
(a) Amendment No. 7 to the Registrant's
Registration Statement on Form F-1 filed with the Commission on September 22, 2016 (Registration No. 333-	211714), which contains
the Registrant's audited financial statements for the latest fiscal year for which such statements have been filed.
(b) The Registrant's prospectus to be
filed with the Commission pursuant to Rule 424(b) under the Securities Act, relating to the Registrant's Registration Statement
on Form F-1, as amended (Registration No. 333-211714).
(c) The description of the Registrant's
share capital which is contained in the Registrant's Registration Statement Form 8-A (Registration No. 333-211714), dated
September 23, 2016, including any amendments or supplements thereto.
In addition, all documents subsequently filed
by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing
of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, including any Reports of Foreign Private Issuers on Form 6-K submitted during
such period (or portion thereof) that is identified in such form as being incorporated by reference into this Registration Statement,
shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of the filing
of such documents. The Registrant is not incorporating by reference any documents or portions thereof, whether specifically listed
above or filed in the future, that are not deemed "filed" with the Commission.
Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein, (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Under Swiss law, a corporation
may indemnify its directors or officers against losses and expenses (except for such losses and expenses arising from willful misconduct
or negligence, although legal scholars advocate that at least gross negligence be required), including attorney's fees, judgments,
fines and settlement amounts actually and reasonably incurred in a civil or criminal action, suit or proceeding by reason of having
been the representative of, or serving at the request of, the corporation.
Subject to Swiss law, Article
29 of the Registrant's articles of association provides for indemnification of the existing and former members of the Registrant's
board of directors, executive management, and their heirs, executors and administrators, against liabilities arising in connection
with the performance of their duties in such capacity, and permits the Registrant to advance the expenses of defending any act,
suit or proceeding to members of our board of directors and executive management.
In addition, under general
principles of Swiss employment law, an employer may be required to indemnify an employee against losses and expenses incurred by
such employee in the proper execution of their duties under the employment agreement with the company.
The Registrant intends to
enter into indemnification agreements with each of the members of its board of directors and executive officers in the form to
be filed as an exhibit to the Registrant's Registration Statement on Form F-1 filed with the Commission.
In the underwriting agreement
that the Registrant enters into in connection with the sale of the common shares being registered on the Registrant's Form
F-1, the underwriters will agree to indemnify, under certain conditions, the Registrant, its directors, our officers and persons
who control the Registrant within the meaning of the Securities Act of 1933, as amended, the Securities Act, against certain liabilities.
Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant,
the Registrant has been advised that, in the opinion of the U.S. Securities and Exchange Commission, such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit Number
4.1
AC Immune SA Articles of Association dated September 25, 2016 (incorporated herein by reference to the Registrant's Registration Statement on Form S-8, filed on September 29, 2016)
4.2
Registration Right Agreement (incorporated by reference to the
        Registrant's Registration Statement on Form F-1, filed with the SEC on May 31, 2016)
5
Opinion of Vischer AG, Swiss counsel of AC Immune SA, as to the validity of the common shares (filed herewith)
23.1
Consent of Vischer AG, counsel of AC Immune SA (included in
        Exhibit 5)
23.2
Consent of Ernst & Young AG, independent registered public accounting firm (filed herewith)
24
Powers of Attorney (included in the signature pages hereto)
99
AC Immune SA 2016 Stock Option and Incentive Plan (incorporated by reference to the Registrant's Report on Form 6-K, filed with the SEC on October 13, 2016)
Item
9. Undertakings.
(a) The
undersigned Registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To
include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;
(iii) To
include any material information with respect to the Plans not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;
provided
,
however
,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section
13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2) That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial
bona fide
offering thereof.
(3) To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c) Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing this Registration
Statement and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Lausanne, Switzerland on this  8th day of March, 2017.
AC Immune SA
By:
/s/ Andrea Pfeifer
Name:
Andrea Pfeifer
Title:
Chief Executive Officer
By:
/s/ Jean-Fabien Monin
Name:
Jean-Fabien Monin
Title:
Chief Administrative Officer
National Corporate Research, Ltd.
(Authorized Representative in the
United States)
By:
/s/ Colleen A. DeVries
Name:
Colleen A. DeVries
Title:
SVP on behalf of National Corporate Research, Ltd.
POWER OF ATTORNEY
KNOW ALL PERSONS
BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Andrea Pfeifer and Jean-Fabien Monin
as his or her true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him or her and
in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments)
to this Registration Statement and any and all additional registration statements pursuant to Rule 462(b) of the Securities
Act of 1933, as amended, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with
the U.S. Securities and Exchange Commission, granting unto said attorneys-in-fact and agent full power and authority to do and
perform each and every act in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his substitutes
may lawfully do or cause to be done by virtue hereof.
Pursuant to the
requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.
Signature
Title
Date
/s/ Andrea Pfeifer
Chief Executive Officer, Director
March 7, 2017
Andrea Pfeifer
(Principal Executive Officer)
/s/ Jean-Fabien Monin
Chief Administrative Officer
March 6, 2017
Jean-Fabien Monin
(Principal Financial and Accounting Officer)
/s/ Martin Velasco
Martin Velasco
Chairman and Director
March 7, 2017
Director
______________, 2017
Detlev Riesner
Director
______________, 2017
Friedrich von Bohlen und Halbach
/s/ Peter Bollman
Director
March 6, 2017
Peter Bollman
/s/ Thomas Graney
Director
March 3, 2017
Thomas Graney
EXHIBIT INDEX
Exhibit Number
4.1
AC Immune SA Articles of Association dated September 25, 2016 (incorporated herein by reference to the Registrant's Registration Statement on Form S-8, filed on September 29, 2016)
4.2
Registration Right Agreement
(incorporated by reference to the Registrant's Registration Statement on Form F-1, filed with the SEC on May 31, 2016)
5
Opinion of Vischer AG, Swiss counsel of AC Immune SA, as to the validity of the common shares (filed herewith)
23.1
Consent of Vischer AG, counsel
of AC Immune SA (included in Exhibit 5)
23.2
Consent of Ernst & Young AG, independent registered public accounting firm (filed herewith)
24
Powers of Attorney (included in the signature pages hereto)
99
AC Immune SA 2016 Stock Option and Incentive Plan (incorporated by reference to the Registrant's Report on Form 6-K, filed with the SEC on October 13, 2016)