By Jaime Llinares Taboada

GlaxoSmithKline PLC said Friday that it has entered into a collaboration with Alector Inc. for the development and commercialization of two clinical stage monoclonal antibodies for neurodegenerative diseases.

The London-listed healthcare company said that Alector will receive $700 million in upfront payments and might receive an additional $1.5 billion in clinical development, regulatory and commercial launch-related milestone payments.

GSK said enrolment is currently underway for a Phase 3 trial for the AL001 antibodies, while AL101 is in Phase 1a clinical trial.

Both companies have agreed to co-commercialize and share profits in the U.S. GSK will retain exclusive commercialization rights outside the U.S.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

July 02, 2021 08:08 ET (12:08 GMT)

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