DDF notes major collaboration between portfolio company Alector and AbbVie to advance novel class of immune therapies for patients with Alzheimer's disease
(Thomson Reuters ONE) -
DDF notes major collaboration between portfolio company Alector and AbbVie to
advance novel class of immune therapies for patients with Alzheimer's disease
* DDF invested in San Francisco company Alector in Q4 2015
* Collaboration combines Alector's immuno-neurology discovery platform and
AbbVie's extensive research, development and commercial expertise to advance
innovative new therapies for Alzheimer's disease
* Alector and AbbVie will co-fund development and commercialisation and will
share global profits equally
London, 24 October 2017 - The Dementia Discovery Fund, a venture capital fund
focused on discovering and developing novel therapies for dementia, notes that
its first portfolio company, Alector, a privately owned biotechnology company
and AbbVie (NYSE:ABBV), a global biopharmaceutical company, today announced a
global strategic collaboration to develop and commercialise medicines to treat
Alzheimer's disease and other neurodegenerative disorders.
Immuno-neurology is a rapidly evolving scientific area focused on harnessing the
power of the immune system to attack devastating neurodegenerative disorders
like Alzheimer's disease. There is increasing rationale - from large-scale human
genetic analyses and animal model studies - that immune deficiencies within the
central nervous system play an important role in the progression of
neurodegeneration. Alector has developed an innovative immuno-neurology
technology platform to simultaneously address multiple pathologies associated
with neurodegeneration.
DDF's investment in Alector reflects the team's belief that there is a
significant opportunity to develop dementia drugs targeting biological pathways
beyond the prevailing amyloid beta hypothesis. It has an initial portfolio of
12 investments in drug discovery companies and projects targeting areas
including microglial biology and inflammation, mitochondrial dynamics,
trafficking and membrane biology and synaptic physiology and function.
Tetsu Maruyama Ph.D., Chief Scientific Officer of the DDF said: "I am delighted
that Alector, the first investment made by the DDF, has achieved so much over
the last two years and has built a compelling early pipeline of biotherapeutics
focused on immuno-neurology for a range of different dementias. It is exciting
that AbbVie, a leading research-driven pharmaceutical company has recognised
Alector's expertise and made such a significant commitment to this
collaboration."
"Alzheimer's is among the most difficult-to-treat diseases and there is an
urgent need for new scientific approaches that lead to better therapies for
patients," said Jim Sullivan, Ph.D., vice president, pharmaceutical discovery,
AbbVie. "Alector's unique approach to engaging the immune system to combat
neurodegeneration reflects our commitment to target this epidemic in new ways.
We recognised the potential of Alector's research first as an AbbVie Ventures
portfolio company and are now eager to partner with them to further develop this
platform into meaningful advances for patients."
"We seek to advance the field of immuno-neurology as a new therapeutic modality
for dementia and neurodegeneration. We anticipate that immuno-neurology
therapies will have as much of an impact on brain disorders as immuno-oncology
is having on cancer," said Arnon Rosenthal Ph.D., chief executive officer,
Alector. "We look forward to co-developing our disease-modifying drugs in true
partnership with AbbVie, which is making a bold commitment to the field."
Under the terms of the agreement, AbbVie and Alector have agreed to research a
portfolio of antibody targets and AbbVie has an option to global development and
commercial rights to two targets. Alector will conduct exploratory research,
drug discovery and development for lead programs up to the conclusion of the
proof of concept studies. Upon exercise of the option, AbbVie will lead
development and commercialisation activities. Alector and AbbVie will co-fund
development and commercialisation and will share global profits equally. Alector
will receive a $205 million upfront payment and a potential, future equity
investment of up to $20 million.
For further information please visit the DDF website at www.theddfund.com
Contacts:
Dementia Discovery Fund
Laurence Barker, CBO, laurence.barker(at)svlhealthinvestors.com, +44 20 7421 7094
Consilium Strategic Communications
Mary-Jane Elliott, Chris Gardner, Ivar Milligan, Melissa Gardiner
DDF(at)consilium-comms.com
+44 20 3709 5700
About the Dementia Discovery Fund (DDF)
The DDF is a venture capital fund which invests in projects and companies to
discover and develop novel, effective disease-modifying therapeutics for
dementia. Seven leading pharmaceutical companies (GSK, Biogen, Lilly, Takeda,
Pfizer, Johnson & Johnson, and Astex, a subsidiary of Otsuka), Woodford
Investment Management via Woodford Patient Capital Trust (WPCT), the UK's
Department of Health and charity Alzheimer's Research UK have invested in the
DDF to date . Heads of Neuroscience and R&D represent the strategic investors on
the DDF Scientific Advisory Board and work closely with SV's dedicated team of
neuroscientists and experts to identify and evaluate novel approaches for the
treatment of dementia. SV won the bid to become Manager in a competitive
selection process held in 2015. www.theddfund.com
About Alector LLC
Alector is a privately-owned biotechnology company whose mission is to harness
the immune system to meaningfully treat neurodegenerative diseases and cancer.
Alector was founded in 2013 by thought leaders in biotechnology, neuroscience,
and antibody drug discovery and is backed by leading investors including
OrbiMed, Polaris, Google Ventures, Topspin Partners, Mission Bay Capital as well
as Merck, AbbVie, Amgen and the Dementia Discovery Fund. For more information,
please visit www.alector.com.
About AbbVie
AbbVie is a global, research-driven biopharmaceutical company committed to
developing innovative advanced therapies for some of the world's most complex
and critical conditions. The company's mission is to use its expertise,
dedicated people and unique approach to innovation to markedly improve
treatments across four primary therapeutic areas: immunology, oncology, virology
and neuroscience. In more than 75 countries, AbbVie employees are working every
day to advance health solutions for people around the world. For more
information about AbbVie, please visit us at www.abbvie.com. Follow (at)abbvie on
Twitter, Facebook or LinkedIn.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Dementia Discovery Fund via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.10.2017 - 15:28 Uhr
Sprache: Deutsch
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