Alnylam, Isis deal

Alnylam received co-exclusive, worldwide rights to develop and commercialize Isis' single-stranded RNAi (ssRNAi) technology. Both companies will participate in research, which will initially be funded by Alnylam for three years at a minimum of $3 million per year. Isis is eligible to receive $31 million, including $11 million up front, $10 million within 18 months or earlier if in vivo efficacy in rodents is demonstrated sooner, and $10 million payable in two tranches of $5 million upon achievement of in vivo efficacy in non-human primates and $5 million upon start of the first clinical trial with an ssRNAi candidate. Both parties are eligible for additional undisclosed milestones and royalties on compounds advanced by the other partner, which incorporate the ssRNAi technology. The partners are also eligible for a portion of sublicense payments. ...