- Clinical-stage biotech Alector ( NASDAQ: ALEC ) announced that AbbVie ( ABBV ) will no longer partner with the company for the development of AL003, an experimental treatment targeted at the Alzheimer’s disease.
- AL003 is part of an agreement the two companies signed in 2017 to jointly develop and commercialize therapeutics for Alzheimer’s and other neurodegenerative diseases.
- AL003 is a molecule designed to modulate checkpoint receptors on the brain’s immune cells, targeting sialic acid binding Ig-like lectin 3 (SIGLEC 3, also called CD33).
- The decision to end collaboration for AL003 follows a review the companies conducted to evaluate the next steps for the program. After completing the review, AbbVie ( ABBV ) decided to end the partnership for CD33 program on June 30, Alector ( ALEC ) said, adding that the companies will continue to collaborate in the development of AL002, another Alzheimer’s candidate with a different mechanism.
- Read the latest 10-K filing of Alector ( ALEC ) to known more about the agreement between the two companies.
For further details see:
AbbVie ends partnership with Alector for Alzheimer’s candidate