Alector shares surged 72% in premarket trading on Monday after Roche agreed to license its experimental Parkinson’s disease treatment. The deal is worth up to $1.27 billion, with Roche paying $100 million upfront. This partnership shows how big drugmakers use biotech research to find new ways to treat brain diseases.
Oct 5 (Reuters) - Swiss drugmaker Roche (ROPC.S), opens new tab will pay up to $1.27 billion to license Alector's (ALEC.O), opens new tab 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.
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