Alector inks global licensing agreement with Genentech for AL050
- Alector entered an exclusive global licensing agreement with Genentech for the investigational drug AL050.
- The transaction features a $100 million upfront payment and up to $1.17 billion in potential milestone payments.
- The company stated the partnership extends its cash runway into 2029 to support ongoing clinical programs.
Alector (NASDAQ:ALEC) executed an exclusive global licensing agreement with Genentech for AL050, an investigational enzyme replacement therapy targeting Parkinson’s disease.
The treatment utilizes the proprietary Alector Brain Carrier platform to deliver engineered GCase directly into the brain across neurodegenerative indications.
Genentech will assume full responsibility for clinical development, regulatory activities, manufacturing, and commercialization across all global indications.
Alector retained ownership of the Alector Brain Carrier platform along with full rights to utilize it across its wholly owned internal pipeline.
Following the announcement, Alector's share price was up at $4.65.
Alector stated that the upfront financial terms and associated capital will extend its corporate cash runway into the year 2029.
The extended funding supports upcoming multi-cohort clinical data readouts for its Alzheimer's anti-Aβ antibody and upcoming investigational new drug filings.
