Alector has filed for an IPO that will bring in approximately $180 million if options are exercised. The company is is focused on developing novel therapeutics that harness the brains immune system to treat neurodegenerative conditions. The company intends to trade under the symbol “ALEC”.
The prospectus identifies seven programs in their pipeline. These programs include: Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS), and progressive multiple sclerosis. Moreover, we have three oncology programs. The company estimates that they are one to three years from entering pre-clinical studies.
In October of 2017, Alector announced an agreement with Abbvie to advance a novel class of immune therapies for Alzheimer’s Disease. Under terms of the agreement, Alector received an upfront payment of $205 million and a potential future $20 million equity investment.
Alector is lead by Arnon Rosenthal PhD. Rosenthal co-founded Rinat Neuroscience which was acquired by Pfizer in 2006.