PartnershipJul 8, 2026, 04:14 PM
Alector's GSK Collaboration Terminated; Repays $10.4M Loan
AI Summary
Alector, Inc. announced that Glaxo Wellcome UK Limited (GSK) terminated their Collaboration and License Agreement, effective January 2, 2027. This decision follows the failure of the Phase 3 INFRONT-3 clinical trial for latozinemab and the discontinuation of the Phase 2 PROGRESS-AD trial for nivisnebart. Additionally, Alector repaid $10,428,827.77 to Hercules Capital, Inc., terminating its Loan and Security Agreement.
Key Highlights
- GSK terminated the Collaboration and License Agreement with Alector, effective January 2, 2027.
- The termination follows the Phase 3 INFRONT-3 trial for latozinemab not meeting its co-primary endpoint.
- It also follows the discontinuation of the Phase 2 PROGRESS-AD trial for nivisnebart.
- Alector repaid $10,428,827.77 in principal, interest, and charges to Hercules Capital, Inc.
- The Loan and Security Agreement with Hercules Capital, Inc. was terminated on July 8, 2026.
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