Alector (ALEC) said Monday it entered an exclusive global licensing agreement with Genentech, a Roche firm, for the development and commercialization of its AL050 program targeting Parkinson's disease.

Under the deal, Alector said it will receive $100 million upfront and is eligible for up to $1.17 billion in development, regulatory and commercial milestones, as well as tiered royalties on net sales.

Genentech will handle development, regulatory, manufacturing and commercialization globally, the company.

Alector said it will retain ownership of its antibody blood-brain-barrier transport platform and rights to use it across its wholly owned pipeline.