Alector, Inc. · NASDAQ:ALEC
Alector — Investor Presentation (October 2026)
37 slides from Alector's investor presentation, October 2026
Slide 1: Corporate Deck
Corporate Deck Alector Brain Carrier Platform & Pipeline October 2026
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking st
Slide 3: Our Assets
Our Assets AL137 (AD)*, AL037 backup molecule AL064/AL164 (AD)* ABC Anti-Aβ Antibody ABC Tau siRNA 2026: NHP IND-enabling studies 2026: NHP knockdown validation 2027: Targeting First-in-Human 2027/8: Targeting First-in-Human • High brain exposure, planning SC delivery • Durable target knockdown • Fu
Slide 4: ABC-enabled Anti-amyloid beta (Aβ) Antibody Program
AL137 ABC-enabled Anti-amyloid beta (Aβ) Antibody Program Property of Alector 4
Slide 5: AL137: Best-in-Class Molecular Design Combining Eight-Attribute Advantage
AL137: Best-in-Class Molecular Design Combining Eight-Attribute Advantage Selective Binding to Toxic A Facilitates Phagocytosis of A Engineered Designed to bind PyroGlu3 Aβ Epitope Induces Microglia to remove A plaques Anti-PyroGlu3 Aβ Binding Epitope 1 High Brain Distribution and Exposure Low Pr
Slide 6: AL137 Designed to Overcome Efficacy Constraints of Third-Generation Anti-Aβ Antibodies
AL137 Designed to Overcome Efficacy Constraints of Third-Generation Anti-A Antibodies 3rd Generation 2nd Generation Next Generation 1st Generation (e.g. AbbVie (e.g. Trontinemab) (Alector’s ABC) Denali, Korsana) Approach: No TfR, full Approach: Exposed TfR binding Approach: Exposed TfR binding Appr
Slide 7: AL137: Next-Generation Brain-Enabled Anti-Aβ Antibody vs. Trontinemab
AL137: Next-Generation Brain-Enabled Anti-Aβ Antibody Designed to Overcome Trontinemab’s Tolerability and Scalability Constraints TRON TIN EM AB AL137 (ABC) • Strong Aβ clearance, but potentially • Targeting comparable or faster Aβ dose-limited by hematologic effects clearance without a potential EF
Slide 8: AL137 Binds Aβ Plaques in Human AD Brain Sections
AL137 Binds A Plaques in Human AD Brain Sections Alector Anti-A Antibodies Colocalize with A Plaques on Human AD Brain Sections Unfixed, frozen human AD sections (medial temporal gyrus) were obtained from the Banner Institute, AZ; plaques were assessed by IFL with AL137 (green) and anti-A (6E10,
Slide 9: AL137 Facilitates Phagocytosis of PyroGlu3 Aβ by Human Microglia
AL137 Facilitates Phagocytosis of PyroGlu3 Aβ by Human Microglia Fluorescent Imaging (red) of PyroGlu3 AL137-Dependent Phagocytosis of PyroGlu3 Aβ by Aβ Phagocytosed by Microglia in 24h Human IPSC Microglia in Culture PyroGlu3 Aβ only Isotype Control iMicroglia Aβ AL137 - Naked AL137 AL137, AL137 -
Slide 10: AL137 Surrogate Binds to Amyloid Plaques in Mouse AD Brains and Reduces Aβ42
AL137 Surrogate Binds to Amyloid Plaques in Mouse AD Brains and Reduces A42 AL137-mTfR Colocalizes with A Plaques in the 5XFAD AD Mouse Reduction in Brain Aβ42 in AL137 mTfR-Dosed Mice Iso Control Iso mTfR Colocalization (% area) p=0.035 50 mg/kg AL137-mTfR AL137-mTfR 5 mg/kg 3D Reconstruction (Le
Slide 11: Enhanced Brain Uptake with AL137
Enhanced Brain Uptake with AL137 AL137 at 3mg/kg reaches 8.4nM in frontal cortex, representing significantly higher brain levels than clinical competitors* Frontal Cortex Hippocampus 32x 29x Three NHPs per group were dosed on days 1 and 9. Brain tissues were collected 24 hours after the second injec
Slide 12: AL137 Shows Superior Brain Uptake in NHPs
AL137 Shows Superior Brain Uptake in NHPs Company Calculated Brain Concentration with 10mg/kg dose 12-28 nM 3 nM 2.1 nM 5.7 nM Extrapolated Brain Concentration 24-72h, following 10 mg/kg IV injection in NHP. (Anti-A antibody) (Anti-BACE antibody) (Anti-A antibody) (Anti-A antibody) Linear dose re
Slide 13: Full Effector Function is Required for Clinical Efficacy: The Pattern Across a Decade of Anti-Aβ Programs
Full Effector Function is Required for Clinical Efficacy: The Pattern Across a Decade of Anti-Aβ Programs Reduced Effector – No Benefit Full Effector – Clinical Benefit Partial Plaque Clearance – No Benefit Multiple anti-Aβ antibodies engineered The two antibodies with reproducible Gantenerumab show
Slide 14: Impaired Effector Function Reduces Antibody Potency
Impaired Effector Function Reduces Antibody Potency The only Aβ antibodies that have shown efficacy in clinical trials for AD are IgG1 with full effector function Cis LALAPS Cripples Fc Function, Reduces Potency by Inactive Fc Slows Down Microglia-Mediated Clearance of Aβ 10-Fold at the Expected Bra
Slide 15: AL137: Unique Brain Shuttle is Designed to Reduce Hematologic Adverse Effects
AL137: Unique Brain Shuttle is Designed to Reduce Hematologic Adverse Effects Legend Transferrin Receptor Activating Fc Receptor Anti-Abeta Fab(s) Sterically Exposed FcgR hindered FcgR binding site Anti-TfR scFv binding site Exposed FcgR binding site Abeta Plaque Abeta Plaque Reticulocyte TfR+ Retic
Slide 16: Alector's TfR Binding Epitope Masks FcγR Co-Binding, Driving an Improved Hematologic Profile
Alector’s TfR Binding Epitope Masks FcγR Co-Binding, Driving an Improved Control Ab (no ABC) Hematologic Profile With Full Effector Function ABC Exposed Epitope Exposed Epitope + Cis 8 Red Blood Cell 18 Hemoglobin (Does not prevent co-binding to FcγR) LALAPS 15 RBC Count (10^6/uL) Hemaglobin (g/dL)
Slide 17: AL137 Displays an Improved Hematologic Profile With A Full Effector Function
AL137 Displays an Improved Hematologic Profile With A Full Effector Function Reticulocyte Red Blood Cell Hemoglobin Dosing Three NHPs per group were injected on days 1 and 9 (red arrows). Blood samples were analyzed for reticulocytes, red blood cell counts and hemoglobin levels at the indicated time
Slide 18: AL137 Projected to Display Superior Brain Exposure with Subcutaneous Administration
AL137 Projected to Display Superior Brain Exposure with Subcutaneous Administration Suitable for traditional subcutaneous formulation without additive technology Predicted Serum PK of AL137 and reference mAb Predicted Brain PK of AL137 and reference brain brain enabled clinical antibody enabled clin
Slide 19: AL137 was Well-Tolerated in NHPs at Doses Up to 30 mg/kg IV
AL137 was Well-Tolerated in NHPs at Doses Up to 30 mg/kg IV in a 9-Day, Two-Dose Study Toxicological Parameters Evaluated: Summary: • Mortality/Morbidity • Administration of AL137 was well tolerated • Clinical observations at doses up to 30mg/kg • Body weight • As expected, transient reduction in •
Slide 20: AL137 Phase 1 Clinical Plan
AL137 Phase 1 Clinical Plan • Evaluate safety, tolerability, and pharmacokinetics (PK) following single and multiple ascending doses. PHASE 1 OBJECTIVES • Characterize dose-response relationships. • Assess pharmacodynamic (PD) markers of amyloid reduction. • Phase 1a: Single Ascending Dose study wit
Slide 21: AL137 Clinical Timeline
AL137 Clinical Timeline Q3 26 Q4 26 Q1 27 Q2 27 Q3 27 Q4 27 Q1 28 Q2 28 Q3 28 Q4 28 SAD: File CTN SAD: Target FIH Target PET Imaging Data Australia in HV MAD: File IND MAD: Target FIH US in AD patients SAD = Single Ascending Dose; MAD = Multiple Ascending Dose; FIH = First in Human; HV = Healthy Vol
Slide 22: AL164/AL064 ABC-enabled Tau siRNA Program
AL164/AL064 ABC-enabled Tau siRNA Program Property of Alector 22
Slide 23: AL064/AL164: Aiming to Achieve Brain-Wide Tau Reduction Without Invasive Spinal Injections
AL064/AL164*: Aiming to Achieve Brain-Wide Tau Reduction Without Invasive Spinal Injections THE CHALLENGE Tau drives AD progression, yet antibodies fail against its intracellular pathology, Brain Carrier and Tau ASOs require invasive intrathecal delivery with uneven distribution. TH E AL 0 64 /AL 1
Slide 24: AL064 siRNA Demonstrates High Potency in Vitro
AL064 siRNA Demonstrates High Potency in Vitro Dose-Dependent Knockdown Knockdown all MAPT Isoforms in Knockdown of MAPT in Cyno Knockdown of MAPT in iPSC in MAPT Expressing Cell Line Human Neuroblastoma Cell Line Primary Astrocytes Neurons by AL064 AL064 siRNA 2x dosing 4x dosing AL064 siRNA 20 nM
Slide 25: AL164 Induces Up to 81% MAPT Knockdown in Murine Model
AL164 Induces Up to 81% MAPT Knockdown in Murine Model 3 loading doses of AL164 achieve Single dose of AL164 knockdown maintains MAPT mRNA levels below 50% for over 2 81% KD in murine brain months HuTfR x hMAPT double-knockin mice HuTfR x hMAPT double-knockin mice were injected subcutaneously with a
Slide 26: Peripheral AL064: Up to ~130 nM in Brain and ~60-70% mRNA Knockdown in NHPs
Peripheral AL064: Up to ~130 nM in Brain and ~60-70% mRNA Knockdown in NHPs Concentrations of AL064 in Brain Tissues (28 days) Knockdown of Tau mRNA in Brain Tissues (28 days) Vehicle AL064 MAPT DAPI Three NHP per group were injected via IV infusion on days 1, 8, 15 with 3 mg/kg siRNA-dose-equivalen
Slide 27: AL064: Durable Reduction of Phospho-Tau 217 in NHP Brain and CSF
AL064: Durable Reduction of Phospho-Tau 217 in NHP Brain and CSF Peripheral IV administration Up to 60+% Reduction of pTau 217 in NHP Brain 45% Reduction of pTau 217 in the CSF at Days 28 and 98 at Day 70 D28 and D98 normalized to experiment-specific vehicle treated cohort. Dosing Three NHP per grou
Slide 28: Subcutaneous Delivery of AL164: Up to 76% mRNA Knockdown in NHPs
Subcutaneous Delivery of AL164: Up to 76% mRNA Knockdown in NHPs Three NHP per group were injected via SC or IV on days 1, 8, 15 with 3 mg/kg siRNA-dose-equivalent and the level of MAPT mRNA in different brain regions was measured at day 29 with qRT-PCR assay. Property of Alector 28
Slide 29: AL062 ABC-enabled α-Synuclein siRNA Program
AL062 ABC-enabled −Synuclein siRNA Program Property of Alector 29
Slide 30: AL062: Brain-Enabled, Disease-Modifying, Anti-α-Synuclein Therapy for PD/LBD
AL062: Brain-Enabled, Disease-Modifying, Anti--Synuclein Therapy for PD/LBD Monovalent AOC format THE CHALLENGE Brain Carrier No disease-modifying therapies currently target misfolded intracellular α-synuclein in PD or LBD. Anti-α-synuclein antibodies have largely failed or shown limited benefit, l
Slide 31: SNCA (α-Synuclein) siRNA Candidates: High Potency and Low Off-Target Activity
SNCA (α-Synuclein) siRNA Candidates: High Potency and Low Off-Target Activity Dose-Dependent Knockdown in SNCA Minimal Off-target in Human Cell Lines Expressing Cell Line AL062 Oligo ID ADP062-2 analogue IC50=18pM Max KD: 93% Hep3B #DEGs IC50=3pM 50% KD (FDR < 0 1 Max KD: 84% 0.05, log2FC <= -1) SH-
Slide 32: AL062 Significantly Reduces α-Synuclein Expression Throughout the Mouse Brain
AL062 Significantly Reduces α-Synuclein Expression Throughout the Mouse Brain AL062 siRNA is delivered throughout Study design Snca expression was reduced 84-94% the mouse brain SC hTfR KI 3 x 3mg/kg siRNA hTfR KI mice were dosed subcutaneously 3 times siRNA concentration was determined using an Snc
Slide 33: Subcutaneous Delivery of AL062 Reduced α-Synuclein Expression by up to 94% in NHP Brain
Subcutaneous Delivery of AL062 Reduced α-Synuclein Expression by up to 94% in NHP Brain AL062 achieved over 85% SNCA knock down in most brain regions NHPs were injected subcutaneously on days 1, 8, and 15 with 3mg/kg siRNA equivalent dose. Brain samples were collected on d29 and SNCA expression was
Slide 34: AL050 ABC-enabled GCase Enzyme Replacement Therapy Program
AL050 ABC-enabled GCase Enzyme Replacement Therapy Program Property of Alector 34
Slide 35: AL050: Brain-Penetrant GCase ERT – Licensed to Genentech (2026)
AL050: Brain-Penetrant GCase ERT – Licensed to Genentech (2026) Exclusive global license to Genentech; Genentech assumes development, manufacturing, and commercialization responsibility U P F R O N T PA Y M E N T * M I L ESTON ES * R O YA LT I E S * $100M Up to $1.17B Tiered Development, regulatory
Slide 36: Platform + Multi-Asset Optionality Creates Asymmetric Strategic Value
Platform + Multi-Asset Optionality Creates Asymmetric Strategic Value* Reproducing the ABC platform Comparable BBB platforms Delay risks competitors defining would require ~5–7 years, acquired or encumbered — next-gen CNS standards creating a strategic moat future access at premium AL137 (ABC Anti-A
Slide 37: Thank You
Wi Thank You