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Biotech / Medical : Biotech Valuation

CRSP 50.73

-2.8%

3:19 PM EST

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To: scaram(o)uche who wrote (9069)	9/9/2003 9:59:36 AM
From: michael_f_murphy	Read Replies (1) of 52153

Merck And Alnylam Tuesday September 9, 8:19 am ET WHITEHOUSE STATION, N.J. -(Dow Jones)- Merck & Co. and Alnylam Holding Co., a therapeutic RNA interference company, signed a multi-year collaboration agreement to develop RNAi-based technology and therapeutics. In a press release Tuesday, pharmaceutical company Merck said the companies will work to advance RNAi technology, which uses a natural biological mechanism to inhibit the expression of disease-causing genes and viruses, and jointly apply the technology to develop RNAi-based therapeutics that selectively target human diseases. Merck will provide Alnylam with a series of drug targets that have well- validated roles in disease and are candidates for a new therapeutic approach using RNAi. Alnylam will develop RNAi compounds against these targets and advance RNAi-based drug candidates through preclinical development. The companies will then decide whether Alnylam, Merck or the two companies together will proceed with the further development and commercialization of each RNAi- based drug candidate. Under the agreement, Merck will make upfront and annual cash payments and also make an equity investment in Alnylam. The achievement of a pre-specified technology milestone will trigger an additional cash payment and equity investment.

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