AbbVie and Alector link up on $205 million Alzheimer's research deal
US biopharma major AbbVie (NYSE: ABBV) and portfolio company Alector, a privately owned biotech, today announced a global strategic collaboration to develop and commercialize medicines to treat Alzheimer’s disease and other neurodegenerative disorders.
“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, vice president, pharmaceutical discovery, at AbbVie.
“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,” he added.
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