Monday, April 15, 2013
With so many of its early years devoted to figuring
out RNAi delivery, Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) had to
depend on its investors, who weren't always patient, according to President and
CEO John Maraganore. But investors who stuck with Alnylam "thought that we
had the right people, and certainly the right IP." Investor FMR LLC has
been with Alnylam since its IPO in May 2004, and Novartis AG (NYSE:NVS;
SIX:NOVN) has been an investor since its 2005 deal with the company.
Both have consistently held more than 5% of the company's shares.
Investors have ponied up $544 million and continue to
pour cash into the company. In January, Alnylam raised $185.2 million through
the sale of 9.2 million shares. In February 2012, the biotech raised $92.7
million through the sale of 8.6 million shares. At