ARTICLE | Company News

Alnylam restructuring as Novartis deal ends

September 24, 2010 12:12 AM UTC

Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) will restructure and reduce headcount by about 25-30% after completing the fifth and final year of a RNAi discovery deal with Novartis AG (NYSE:NVS; SIX:NOVN). Alnylam said Novartis has finalized its selection of 31 disease targets for which it has exclusive rights to discover, develop, and commercialize RNAi therapeutics. Alnylam is eligible for development and sales milestones on therapeutics developed against the selected targets. Alnylam said Novartis declined to exercise a technology adoption option for non-exclusive rights to Alnylam's RNAi IP. ...