Thursday, January 7, 2016

Amgen Backs Alector For Alzheimer's Treatment

Thousand Oaks-based biotech giant Amgen is the a new investor in a round for Alector, a developer of immuno-modulatory therapies for Alzheimer's disease and other neurogenerative disorders, which announced a $29.5M funding today. Alector said that its Series D funding was led by Dementia Discovery Fund, and also included new investor Amgen Ventures and AbbVie, along with prior investors Merck Research Lab Ventures, OrbiMed, Polaris Partners, GV (formerly Google Ventures), Topspin Partners and Mission Bay Capital. Alector, which is based in San Francisco, said the fund go to advance its drug candidates and expand its discovery pipeline. More information »