US biotech Alector (Nasdaq: ALEC) saw its shares dip 2.8% to $11.16 in morning trading, after it revealed n a filing with the Securities and Exchange Commission that its licensing partner AbbVie (Nasdaq: ABBV) was pulling of a collaboration on Alzheimer’s disease.
Alector, in collaboration with AbbVie Biotechnology, has been developing AL003 to treat patients with Alzheimer’s disease as one of two programs under the co-development and option agreement, dated as of October16, 2017, between the parties.
Under the terms of that accord, AbbVie paid Alector an upfront $205 million, with the potential for more in milestones.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze