VC-backed biotech company Alector goes public

South San Francisco-based Alector Inc, a biotechnology company focused on treating neurodegeneration, has raised $176 million for its IPO after pricing its 9.25 million shares at $19 per share. The stock began trading February 7, 2019 on the NASDAQ under the ticker symbol "ALEC." Morgan Stanley, BofA Merrill Lynch, Cowen and Barclays are the lead underwriters. Alector's pre-IPO backers include Deerfield Management, AbbVie Ventures, Federated Kaufmann Fund, Section 32, Euclidean Capital, Foresite Capital, Lilly Asia Ventures, New Leaf Venture Partners, Polaris Partners, OrbiMed, MRL Ventures, GV and the Dementia Discovery Fund.