31 March 2011
Alnylam lands $10M pay from Takeda (MHT release)
Alnylam Pharmaceuticals Inc. has pulled in a $10 million tech transfer payment from Japanese drug maker Takeda Pharmaceutical Co. Ltd., related to aMay 2008 deal between the two companies potentially worth up to $1 billion.
The Cambridge-based RNAi-focused therapeutics firm has now received $150 million from Takeda, between upfront and tech transfer payments stemming from Alnylam’s documents, materials and knowledge platform pertaining to its RNA-interference drugs. Further milestone payments may also be due if Takeda moves the RNAi products along in development.
The deal between the two companies enables Takeda to develop and commercialize Alnylam’s RNAi therapeutics for cancer and metabolic disease, as well as other applications in the future. Alnylam (Nasdaq: ALNY) also has the option, up until the start of Phase 3 clinical trials, to be the U.S. commercial partner of Takeda-developed RNAi treatments.
Founded in 2002, Alnylam last took in a $20 million payment from Takeda, related to the 2008 deal, in March 2010.
Source: MHTBack to the news