India, Oct. 5 -- Alector Inc. (ALEC), a biopharmaceutical company, on Monday announced that it has entered into an exclusive global licensing agreement with Genentech for its AL050 program.
The company will receive a $100 million upfront payment.
The company said it is also eligible to receive up to $1.17 billion in development, regulatory and commercial milestone payments.
The company will also receive tiered royalties on net sales.
The company said the partnership extends its cash runway into 2029 and will support the development of its wholly owned pipeline.
Genentech will receive worldwide rights to develop and commercialize AL050, an investigational brain-penetrant glucocerebrosidase or GCase, enzyme replacement therapy.
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