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AbbVie will pay a $205-million upfront payment and have the option to develop and commercialize two antibody targets globally.
AbbVie announced on Oct. 24, 2017 that it has entered into a global strategic collaboration with Alector, a portfolio biotechnology company of AbbVie Ventures, to develop and commercialize immunotherapies for Alzheimer's disease and other neurodegenerative disorders.
Under the agreement, Alector will receive a $205-million upfront payment and a potential, future equity investment of up to $20 million. The companies will research a portfolio of antibody targets, and AbbVie will have an option to develop and commercialize two targets globally. Alector will conduct exploratory research, drug discovery, and development for lead programs up to completion of proof-of-concept studies. When AbbVie exercises its option, it will lead development and commercialization activities. The companies will co-fund development and commercialization, and will share global profits equally.
"Alzheimer's is among the most difficult-to-treat diseases and there is an urgent need for new scientific approaches that lead to better therapies for patients," said Jim Sullivan, PhD, vice president, pharmaceutical discovery, AbbVie, in a company press release. "Alector's unique approach to engaging the immune system to combat neurodegeneration reflects our commitment to target this epidemic in new ways. We recognized the potential of Alector's research first as an AbbVie Ventures portfolio company, and are now eager to partner with them to further develop this platform into meaningful advances for patients."
"We seek to advance the field of immuno-neurology as a new therapeutic modality for dementia and neurodegeneration. We anticipate that immuno-neurology therapies will have as much of an impact on brain disorders as immuno-oncology is having on cancer," said Arnon Rosenthal PhD, chief executive officer, Alector, in the press release.