Alector has built a broad platform of new-generation therapeutics, which mobilize the immune system to eliminate multiple disease-causing pathologies.
Alector co-founder Asa Abeliovich said: "We have developed a portfolio of promising immuno-modulating antibodies for genetically-validated targets."
Alector co-founder, president and CEO Arnon Rosenthal said: "First-generation therapies for neurodegenerative diseases targeted individual pathological agents. Now, Alector is harnessing the immune system to fight multiple aspects of these disorders."
"Alector is at the leading edge of bringing immuno-modulatory approaches to neurological disorders," noted Carl Gordon, general partner at OrbiMed.
"We are applying in neurology a fundamentally similar approach to immuno-oncology treatments in cancer," added Professor Tillman Gerngross, Alector’s co-founder and chairman of the board of directors.
The proceeds from this financing will enable Alector to broaden its drug pipeline and to advance its most promising drug candidates towards clinical trials. MRL Ventures led this round of equity financing, with participation from OrbiMed, Polaris Partners, Google Ventures, Topspin Partners, Mission Bay Capital and others.
"New innovative approaches to address the societal burden of neurodegenerative diseases are badly needed," said Josh Resnick, M.D., managing director and president of MRL Ventures. "Alector has established a talented team that has already made exciting progress in this area."
"The Alector team is deftly targeting some of the most devastating neurodegenerative diseases that our society faces today," said Terry McGuire, founding partner at Polaris Partners. "This platform is poised to positively impact millions of patients and their families, and we are committed to supporting the development of these critical solutions. Our momentum continues to be encouraging."