ARTICLE | Company News

Alnylam chemistry news

September 27, 2010 7:00 AM UTC

Alnylam 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, Basel Switzerland). 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 $100 million technology adoption option for non-exclusive rights to Alnylam's RNAi IP (see BioCentury, Sept. 12, 2005). ...