$133 million financing for Alector, which reveals targets of 3 drug candidates in Alzheimer's and FTD

25 July 2018

Today San Francisco, USA-based biotech start-up Alector announced the closing of a $133 million Series E financing and for the first time revealed its first three programs focused on Alzheimer’s disease and frontotemporal dementia (FTD).

Deerfield Management, AbbVie Ventures, Federated Kaufmann Fund, Section 32, Euclidean Capital, Foresite Capital, Lilly Asia Ventures, New Leaf Venture Partners, Perceptive Advisors, Casdin Capital, Polaris Partners, OrbiMed, MRL Ventures, GV, the Dementia Discovery Fund, Mission Bay Capital, Amgen Ventures, and others participated in the financing.

The new financing adds to a deal worth a potential $225 million that Alector signed with AbbVie (NYSE: ABBV) in October last year, that gave the latter an option to globally develop and commercialize two of Alector's drug targets, to treat Alzheimer’s disease and other neurodegenerative disorders. It also has a collaboration with USA-based therapeutic antibody developer Adimab

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