Summary
Alnylam Pharmaceuticals, Inc. announced a significant development and collaboration agreement with Genzyme Corporation, a Sanofi company, on October 18, 2012. This agreement grants Genzyme exclusive rights to develop and commercialize specified RNA interference (RNAi) therapeutics targeting transthyretin (TTR) for the treatment of transthyretin-mediated amyloidosis (ATTR) and other related diseases within Japan and the Asia-Pacific region (the "Genzyme Territory"). Alnylam retains all rights outside of this specified territory. This partnership provides Alnylam with immediate financial benefits, including a $22.5 million upfront payment, with potential milestone payments totaling up to $50 million. Furthermore, Alnylam stands to receive tiered royalties ranging from the mid-teens to mid-twenties on future net sales within the Genzyme Territory. The agreement outlines a collaborative development approach, with Genzyme leading development and commercialization efforts in its designated region, while Alnylam maintains primary responsibility elsewhere. This strategic collaboration aims to accelerate the development and potential market entry of Alnylam's promising TTR RNAi therapeutics.
Key Highlights
- 1Alnylam Pharmaceuticals entered into a material definitive agreement with Genzyme Corporation on October 18, 2012.
- 2Genzyme secures exclusive rights for the development and commercialization of specified RNAi therapeutics targeting TTR in Japan and the Asia-Pacific region.
- 3Alnylam receives an upfront payment of $22.5 million from Genzyme.
- 4Potential for up to $50 million in development and regulatory milestone payments.
- 5Alnylam is eligible for tiered royalties on net sales in the Genzyme Territory, expected to be in the mid-teens to mid-twenties percentage.
- 6Genzyme will lead development and commercialization in the Genzyme Territory, with Alnylam retaining rights globally outside this region.
- 7The agreement includes a collaboration structure governed by a joint steering committee.