Alector (ALEC) Investor update summary

Global licensing agreement

• Genentech receives exclusive worldwide rights to develop and commercialize AL050, an investigational brain-penetrant GCase enzyme replacement therapy for Parkinson’s and other neurodegenerative diseases.

• Deal terms include $100 million upfront, up to $1.17 billion in development, regulatory and commercial milestones, plus tiered royalties on net sales.

• Genentech will lead development, regulatory, manufacturing and commercialization; ABC platform ownership and application across the wholly owned pipeline remain with Alector.

AL050 rationale

• AL050 pairs engineered GCase, designed for greater enzymatic activity and longer half-life, with Alector Brain Carrier (ABC), designed to cross the blood-brain barrier.

• The therapy aims to address GCase deficiency by breaking down glucosylsphingosine and glucosylceramide, with the goal of reducing cellular dysfunction and slowing disease progression.

• GCase deficiency is described as a contributor to Parkinson’s disease, most pronounced in but not limited to GBA1 mutation carriers; no approved therapy addresses the underlying enzyme deficiency.

Pipeline and cash runway

• Partnership extends cash runway into 2029 and supports advancing a fully active, subcutaneously delivered, brain-enabled anti-Aβ antibody to multi-cohort Alzheimer’s patient clinical data.

• Planned wholly owned pipeline work includes moving brain-enabled Tau siRNA and alpha-synuclein siRNA through IND-enabling studies to IND filings.

• Scientific webinar focus: AL137 anti-Aβ antibody, AL164 tau siRNA and AL062 alpha-synuclein siRNA.