Alector Inc. (NASDAQ: ALEC) stock surged by 7.59% at last close while the ALEC stock-price gains by 53.82% in the pre-market trading. Alector is a clinical-stage biotechnology firm that is developing immuno-neurology, a new therapeutic strategy for neurodegenerative disorders.
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What is happening?
Alector has established a worldwide strategic partnership for the development and marketing of two clinical-stage, possible first-in-class monoclonal antibodies (AL001 and AL101) that are targeted to raise progranulin (PGRN) levels. PGRN is a major regulator of immunological activity in the brain with genetic connections to a variety of neurodegenerative diseases, making it one of the most appealing genetically validated targets for novel immuno-neurology therapies.
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Alector’s leading immuno-neurology experience will be combined with GSK’s R&D emphasis on the immune system and human genetics, as well as its established late-stage drug development capabilities and worldwide presence. A critical Phase 3 study for AL001 is now enrolling patients who are at risk for or have frontotemporal dementia owing to a progranulin gene mutation (FTD-GRN). FTD-GRN is a quickly developing and severe form of dementia that affects persons under the age of 65. There are currently no authorized therapies for FTD-GRN.
AL001 is also in Phase 2 testing in symptomatic FTD patients with a mutation in the C9orf72 gene, with Phase 2 development for amyotrophic lateral sclerosis (ALS) expected in the second half of 2021. AL101 is now undergoing a Phase 1a clinical study to treat individuals with more common neurodegenerative illnesses such as Parkinson’s disease and Alzheimer’s disease.
Arnon Rosenthal, CEO, Alector, stated:
Alector’s renowned immuno-neurology expertise will be combined with GSK’s dedication to immunology and human genetics, as well as its proven drug development capabilities and worldwide reach. This will aid in the expansion and acceleration of their progranulin franchise into major indications, as well as the creation and expansion of their own late-stage development and commercial capabilities. Importantly, this agreement is intended to completely support the development of AL001 and AL101, allowing Alector to continue creating a fully integrated firm as they work to meet the significant unmet medical need in patients with neurodegenerative disorders. They are optimistic that AL001 and AL101 will be developed to their full potential because to GSK’s considerable expertise in developing ground-breaking medicines at the interface of immunology and human genetics.
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