Summary
Regeneron Pharmaceuticals, Inc. (REGN) announced a significant strategic collaboration with Alnylam Pharmaceuticals, Inc. on April 8, 2019, focused on the discovery, development, and commercialization of RNA interference (RNAi) therapeutics. This collaboration targets a broad range of diseases, with an initial focus on therapeutic targets in the eye and central nervous system (CNS), along with a select number of liver targets. The agreement includes substantial upfront payments and milestone potential, along with equity investment, positioning Regeneron to expand its pipeline in innovative therapeutic modalities. In conjunction with the collaboration, Regeneron is investing $400 million in Alnylam through a stock purchase, acquiring a significant equity stake. This dual approach of collaboration and investment underscores Regeneron's strategic commitment to leveraging Alnylam's RNAi technology. The partnership outlines detailed structures for advancing programs, including options for licensing and co-commercialization, and sets specific terms for decision-making, funding, and revenue sharing. The deal is subject to customary closing conditions, including regulatory approval.
Key Highlights
- 1Regeneron and Alnylam enter a global strategic collaboration to develop RNAi therapeutics for eye, CNS, and liver diseases.
- 2Regeneron will make an upfront payment of $400 million to Alnylam.
- 3Regeneron will also purchase $400 million of Alnylam's equity.
- 4Alnylam is eligible to receive up to $200 million in clinical proof-of-principle milestones for eye/CNS programs.
- 5The collaboration includes options for licensing and co-commercialization agreements with defined financial terms and responsibilities.
- 6Regeneron has the right to combine its proprietary antibodies with Alnylam's siRNA therapeutics.
- 7The agreement includes exclusive rights for Alnylam in oligonucleotide therapeutics for eye and CNS during the research term, with specific exceptions.