23 Nov One Startup Just Got 225 Million USD in Order to Create a Cure For One Severe Disease
When we mention city of San Francisco, most people by default think about Silicone Valley, which is not surprising, considering that most of tech industry is located there. But surprising enough, that is also a location for one of the up and coming biotech company called Alector.
Although Alector is far from an IT company, it does not mean that its research is less important, especially when its future products could help millions of people. The idea currently developing in the Alector’s pipeline, revolves around using the human immune system in order to combat neurodegenerative disease such as Alzheimer’s. When certain company starts the R&D process for a new medicine, it needs big financial backing, something that startup companies do not have.
Alector achieved big success when it first started innovative trial testing for new cancer cure. This groundbreaking new method developed by Alector is commonly known as immune-oncology. Patients who received this kind of therapy, saw a significant health improvement, so it was only natural to implement this kind of therapy in curing neurodegenerative diseases that impact central nervous system. Alector CEO Arnon Roshental pointed out: “It’s really something that’s just emerging”, which was immediately recognized by pharmaceutical giant AbbVie. While Alector received $225 million from AbbVie for its continuation of medicine trial testing, the investing company gained the rights for future medicine commercialization. So it is not so difficult to comprehend why AbbVie decided to invest so much money.
Alector next plan is to start human test trials, within 2 years.
We sincerely hope that this innovative approach will bring tangible results that can help many people battling neurodegenerative deceases.
Source: http://www.businessinsider.com/abbvie-partners-with-alector-in-225-million-alzheimers-disease-deal-2017-10