AbbVie inks $225M neurodegenerative drug development deal with Alector

|About: AbbVie Inc. (ABBV)|By:, SA News Editor

AbbVie (NYSE:ABBV) inks a deal with startup Alector focused on developing drugs that harness the body's immune system to treat neurodegenerative diseases like Alzheimer's.

Under the terms of the agreement, AbbVie will pay $205M upfront and a future equity investment up to $20M for the option to globally develop and commercialize two drug targets.

Alector, which hopes to get five drug candidates into human trials over the next two years, has raised $80M from leading VC firms in addition to Merck, Amgen and AbbVie's venture unit.

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