Alector, LLC
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This represents Alector’s second failed neurodegenerative asset in a year, after an AbbVie-partnered asset missed in Alzheimer’s last November. On latozinemab for frontotemporal dementia, Alector was working with GSK, which fronted $700 million in 2021 to collaborate on two programs.
As part of cost-cutting efforts, Alector is letting go of about 25 people as it focuses on advancing its preclinical and research pipeline. Alector is also continuing clinical-stage work on programs for frontotemporal dementia and Alzheimer’s disease.
With one disease-modifying therapy already reaching patients and another expected to soon, several biopharma companies anticipate key data for novel assets in the coming 12 months.
In a filing with the SEC, Abbvie’s decision to terminate came after the two firms jointly conducted a review of their next steps for the drug.
Suliman anticipates filing an Investigational New Drug application with the FDA for the PCD asset this year, and next year filing one for the cystic fibrosis asset.
The two antibody candidates, AL001 and AL101, are seen as potential first-in-class medications aimed at a range of neurodegenerative diseases.
Both sides claim to be pleased with arbitration results in dispute over Prevail CEO’s alleged breach of contract from time with Allector.
Here’s a look at some of the biggest U.S. Nasdaq-based initial public offerings in 2019 and some of the more intriguing ones.
Alector, Inc., a clinical stage biotechnology company pioneering immuno-neurology, reported safety and biomarker data from the single ascending dose phase of the INVOKE Phase1 study of its product candidate, AL002, in healthy volunteers.
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