Alector reaches $425 million in funding and enters two neurodegeneration programs into clinical trials with more to come.
Nearly all families have been touched by the sad experience of watching a loved one fade away from the inside – losing memory and motor function because of Alzheimer’s, Parkinson’s disease, frontotemporal dementia, or other neurodegenerative diseases. Finding effective treatments for these diseases is one of the most pressing medical needs of our time.
Unfortunately, many of our efforts to date have been unsuccessful.
Arnon Rosenthal, PhD, has a novel hypothesis – he believes that that neurodegeneration often results from a failure of the brain’s immune system to clean out aberrant proteins and cells. Arnon and his colleagues created Alector, a biotech company pioneering immuno-neurology, to find drugs that can re-activate the immune system and treat these diseases.
Arnon brought Alector to life at MBC Biolabs on the first day we opened our San Francisco facility. In just three years, they found 10 promising targets, developed five programs, raised $90 million— all with an onsite team of 14. Alector partnered with Abbvie, which brought in $205 million for an option of two of Alector’s programs and they closed a $137 million Series E round. And Alector’s successes don’t stop there—they’re taking the first two programs into clinical trials in 2018, followed by three more in 2019.
As a company who has grown alongside us, we couldn’t be more pleased to see their hard work pay off in tremendous ways.