Alector, a biotech company focusing on the immune system to treat degenerative brain disorders such as Alzheimer’s disease, has filed to go public to fund human tests of its experimental therapies.
South San Francisco, CA-based Alector set a preliminary $150 million target for its IPO. The company has applied for a listing on the Nasdaq exchange under the stock symbol “ALEC.”
In its prospectus, Alector challenges longstanding theories that point to problem proteins—amyloid beta and tau in Alzheimer’s, alpha-synuclein in Parkinson’s, and TDP-43 in frontotemporal dementia (FTD) and amyotrophic lateral sclerosis (ALS)—as the root causes of neurodegeneration. Alector contends that the underlying cause of neurodegeneration is a problem with immune cells in the brain.