ARTICLE | Deals
Alector’s pair of sortilin mAbs drive GSK’s ‘flagship’ neurodegeneration deal
The biotech gets $700M up front to fuel clinical testing
July 2, 2021 7:51 PM UTC
A partnership giving GSK rights to two programs targeting SORT1 for neurodegenerative disorders will give Alector a refreshed balance sheet as it prepares to advance clinical studies of the molecules as well as bring three new programs into human trials next year.
The deal’s economics leave Alector Inc. (NASDAQ:ALEC) “fully funded” to study the two mAbs for a widened set of indications, President and COO Shehnaaz Suliman said on a conference call Friday. The company will receive $700 million up front and is eligible for a further $1.5 billion in milestones, plus royalties, in a partnership Alector co-founder and CEO Arnon Rosenthal said is “among the largest that was ever executed in neurodegeneration.”...