Alector soars on Genentech deal for experimental Parkinson's drug
ALEC•Alector granted Genentech exclusive global rights to develop and commercialize its experimental Parkinson's drug AL050. The deal includes $100 million upfront and up to $1.17 billion in milestone payments through 2029.
1. Global licensing deal
Alector entered a global licensing deal with Genentech for AL050, its experimental Parkinson's disease drug. Alector will receive $100 million upfront and is eligible for up to $1.17 billion in milestone payments through 2029. The company retains ownership of its ABC platform and full rights to use it across its pipeline.
