Alector, Inc. has signed a big deal with Genentech worth $100 million upfront.

ALEC · Alector, Inc.

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The agreement brings Alector cash now and moves development, approval, manufacturing, and sales work to Genentech. Alector also gives up exclusive rights to this program and owes Spur $15 million plus a share of certain future payments. Later milestone money depends on success, so it is not assured. The upfront payment and work Genentech takes on make the deal favorable despite those costs.