Alector soars as Roche licenses Parkinson's therapy for up to $1.27 billion

Oct 5 — Swiss drugmaker Roche will pay up to $1.27 ​billion to license Alector's experimental treatment for Parkinson's disease, the US biotech said on ‌Monday, sending its shares surging 72% in premarket trading.

Genentech, a ⁠unit of Roche, will ​pay Alector $100 million ⁠upfront and up to $1.17 billion more if ‌the treatment reaches ‌development, regulatory and sales targets. Alector is ⁠also eligible for royalties.

Here ⁠are some details:

• The agreement grants Genentech exclusive worldwide rights to develop, make and sell AL050, an experimental treatment designed to address a lack of an enzyme linked to ‌Parkinson's disease

• Genentech will ​be responsible for development, regulatory submissions, manufacturing and commercialization of the treatment

• AL050 is an enzyme replacement therapy designed to address the deficiency of the GCase enzyme that leads to the buildup of certain fats and a ​higher risk of Parkinson's disease

• The deal ‌is the latest ‌in ⁠a series of licensing agreements by Roche as it works to expand its drug pipeline

• In June, Roche agreed a licensing and collaboration ‌deal with Nurix ​Therapeutics worth up to $2.3 ‌billion for a ⁠blood cancer ​drug

(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Sahal ​Muhammed)

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