Alector to advance portfolio after raising $133m

Midatech selling US arm for up to $19m
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San Fran biotech Alector plans to raise the $133 million raised in Series E financing to advance its portfolio of immuno-neurology and immune-oncology programmes.

The company is focused on developing therapies that harness the immune system to cure neurodegenerative diseases and cancer.

Recent human genetic studies indicate that the development of neurodegenerative diseases is due in part to a dysfunctional immune system in the brain.

Alector is developing immuno-neurology drugs that harness the brain’s immune system to counteract multiple pathologies at the same time.

“We anticipate that empowering a patient’s own immune system could provide as much benefit for patients suffering from neurodegeneration as immuno-oncology therapies have demonstrated for cancer patients,” said Arnon Rosenthal, Alector’s CEO.

Guided by these emerging studies, especially with regards to the inherited risk of Alzheimer’s disease, Alector has identified a portfolio of drug candidates that the company believes have the potential to restore normal immune function to the aging brain and counteract neurodegeneration.