Alector Provides Executive Leadership Update

--Giacomo Salvadore, M.D., appointed Chief Medical Officer--

--Gary Romano, M.D., Ph.D., to transition from Chief Medical Officer role--

SOUTH SAN FRANCISCO, Calif., March 28, 2025 (GLOBE NEWSWIRE) -- Alector, Inc. (NASDAQ:ALEC), a late-stage clinical biotechnology company focused on developing therapies to counteract the devastating progression of neurodegeneration, today announced that Gary Romano, M.D., Ph.D., has made the decision to step down from his role as Chief Medical Officer. Dr. Romano will continue to contribute to the company as an advisor following his transition. Giacomo Salvadore, M.D., has been appointed Chief Medical Officer effective April 25, 2025. Dr. Salvadore is an established industry executive physician and leader with more than 15 years of experience leading neurology-focused clinical development functions. He joined Alector in 2023 as Senior Vice President of Clinical Development and has a deep knowledge and understanding of the company's pipeline and strategic priorities.

"Dr. Romano has played a pivotal role in shaping our clinical pipeline, driving progress across our programs, and helping position Alector for long-term success. His leadership and strategic vision have been instrumental in advancing our development efforts, and we are grateful for his dedication and impact," said Arnon Rosenthal, Ph.D., Chief Executive Officer. "As we continue advancing toward key transformative milestones, we are pleased to appoint Dr. Salvadore as our new Chief Medical Officer. Giacomo's extensive leadership and expertise in neurology and clinical development, combined with his strong knowledge of our programs, make him exceptionally well-suited to lead our clinical efforts. Under his leadership, we remain well-positioned to execute our strategy and advance first- or best-in-class therapies for patients with neurodegenerative diseases."

Alector currently has two late-stage clinical candidates and five research and preclinical programs, selectively supported by its proprietary blood-brain barrier technology platform, Alector Brain Carrier (ABC). The company remains on track to report topline data from the pivotal INFRONT-3 Phase 3 trial of latozinemab in frontotemporal dementia with a granulin gene mutation (FTD-GRN) in Q4 2025 and to complete enrollment in the PROGRESS-AD Phase 2 trial of AL101 in early Alzheimer's disease by mid-2025. Additionally, Alector plans to advance multiple early-stage programs supported by ABC into IND-enabling studies later this year, with first-in-human trials expected in 2026.

"It has been a privilege to work alongside the talented team at Alector to advance a pipeline of therapies designed to address the urgent needs of patients with neurodegenerative diseases," said Gary Romano, M.D., Ph.D., Chief Medical Officer. "I am confident that under Dr. Salvadore's leadership, Alector's clinical and preclinical programs will continue advancing toward meaningful potential breakthroughs. I look forward to supporting the transition and the company's continued success."

About Dr. Salvadore

Giacomo Salvadore, M.D., joined Alector as Senior Vice President of Clinical Development in 2023, bringing more than 15 years of industry experience leading clinical development for neurology and psychiatry programs. At Alector, he drives the overall clinical development strategy for the company's late-stage clinical portfolio as well as its research and preclinical portfolio.

Before joining Alector, Dr. Salvadore was the Vice President of Translational Medicine at Acadia Pharmaceuticals, where he led the overall strategy for the early development portfolio and guided the clinical development of multiple neurology and psychiatry programs. Prior to that, he spent more than a decade at Janssen Research & Development, where he held multiple leadership roles in clinical development, contributed to clinical strategies across neurology and psychiatry, and led biomarker strategy for central nervous system programs. Dr. Salvadore received his M.D. from the University of Rome, Tor Vergata, and is a trained psychiatrist. He completed a postdoctoral fellowship at the National Institutes of Health (NIH).

About Alector

Alector is a late-stage clinical biotechnology company focused on developing therapies to counteract the devastating progression of neurodegenerative diseases. Leveraging the principles of genetics, immunology and neuroscience, the company is advancing a portfolio of genetically validated programs that aim to remove toxic proteins, replace deficient proteins, and restore immune and nerve cell function. Supported by biomarkers, Alector's product candidates seek to treat a range of indications, such as frontotemporal dementia, Alzheimer's disease, and Parkinson's disease. The company is also developing Alector Brain Carrier (ABC), a proprietary blood-brain barrier platform, which is being selectively applied to its next-generation product candidates and research pipeline. ABC aims to enhance the delivery of therapeutics, achieve deeper brain penetration and efficacy at lower doses, and ultimately improve patient outcomes while reducing costs. Alector is headquartered in South San Francisco, California. For more information, please visit www.alector.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding our business plans, business strategy, product candidates, blood-brain barrier technology platform, research and preclinical pipeline, planned and ongoing preclinical studies and clinical trials, anticipated timing of and detail regarding release of data for INFRONT-3, anticipated timing for enrollment of PROGRESS-AD Phase 2, expected milestones, expectations of our collaboration with GSK, expectations of our interactions with regulatory authorities, and financial and cash guidance. Such statements are subject to numerous risks and uncertainties, including but not limited to risks and uncertainties as set forth in Alector's Annual Report on Form 10-K filed for 2024, with the Securities and Exchange Commission ("SEC"), as well as the other documents Alector files from time to time with the SEC. These documents contain and identify important factors that could cause the actual results for Alector to differ materially from those contained in Alector's forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Alector specifically disclaims any obligation to update any forward-looking statement, except as required by law.

Alector Contacts:

Alector

Katie Hogan

202-549-0557

[email protected]

Argot Partners (media)

David Rosen

646-461-6387

[email protected]

Argot Partners (investors)

Laura Perry

212-600-1902

[email protected]