Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, today announced that it has earned a $20 million technology transfer payment from Takeda Pharmaceutical Company Limited as part of the strategic alliance the companies formed in May 2008. This payment is related to the achievement of certain pre-defined objectives in the transfer of Alnylam’s platform technology, including documents, materials, and know-how, to Takeda for the development of RNAi therapeutics. Alnylam has previously received $120 million in upfront and technology transfer payments from Takeda. In addition to this current $20 million payment, Alnylam is eligible to receive an additional $10 million in near-term technology transfer payments. Alnylam is also eligible to receive significant milestones and royalties related to the Takeda’s advancement of RNAi therapeutic products, and has retained certain product opt-in rights in the U.S. market.
“We are very pleased with the continued progress we have made in our enablement of Takeda with Alnylam’s RNAi therapeutics platform technology and intellectual property”
“We are very pleased with the continued progress we have made in our enablement of Takeda with Alnylam’s RNAi therapeutics platform technology and intellectual property,” said Barry Greene, President and Chief Operating Officer of Alnylam. “Our partnership with Takeda has been extremely productive, and we look forward to our continued work with them in developing RNAi therapeutics on a global basis, which includes Alnylam’s opt-in right to co-develop and co-commercialize certain Takeda RNAi therapeutic products in the U.S. market.”
“We are excited by the completion of this stage in our technology transfer with Alnylam, which provides Takeda with a world-class foundation for RNAi drug discovery,” said Shigenori Ohkawa, Executive Vice President and Chief Scientific Officer of Takeda. “We are encouraged by the progress we have made to date, and look forward to advancing this important innovation to patients.”
The Alnylam-Takeda alliance, which is valued at potentially over $1 billion, represents the industry’s first and most significant RNAi therapeutics partnership between a Japan-based global pharmaceutical company and a U.S. biotechnology company. The agreement provides Takeda with broad, worldwide, non-exclusive access to and enablement with Alnylam’s RNAi therapeutics platform technology and intellectual property in the fields of oncology and metabolic disease, with the right to expand the number of therapeutic fields in the future. In addition, it includes a collaboration and cross-license of delivery technologies between the two companies, and a drug discovery collaboration on certain RNAi targets. Alnylam also has the right to opt-in and co-develop and co-commercialize Takeda RNAi therapeutic programs in the U.S. market on a 50-50 basis; the opt-in right can be exercised up until the start of Phase III clinical trials.
SOURCE Alnylam Pharmaceuticals, Inc.