Item 8.01 Other Events.
Alector, Inc. (the "Company"), in collaboration with AbbVie Biotechnology, Ltd.
("AbbVie"), has been developing AL003 to treat patients with Alzheimer's disease
as one of two programs pursuant to the Co-Development and Option Agreement,
dated as of October 16, 2017, between the parties (the "AbbVie Agreement").
AL003 focuses on modulating checkpoint receptors on the brain's immune cells,
targeting sialic acid binding Ig-like lectin 3 (SIGLEC 3, also called CD33). As
previously disclosed, the Company was reviewing the next steps for the AL003
program together with AbbVie. After completion of such review, AbbVie has
decided to terminate the CD33 collaboration program and pursuant to the terms of
the AbbVie Agreement, on June 30, 2022, AbbVie provided written notice to the
Company formalizing this decision.
The Company, in collaboration with AbbVie pursuant to the AbbVie Agreement,
continues to develop the Company's AL002 program, which is focused on targeting
Triggering Receptor Expressed on Myeloid cells 2 (TREM2), for the treatment of
Alzheimer's disease.
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