The MacD competition heats up. Merck - Alnylam deal.
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Thomas
Merck, Alnylam broaden strategic partnership
Wednesday June 30, 9:30 am ET
CHICAGO, June 30 (Reuters) - Merck & Co. (NYSE:MRK - News) and Alnylam Pharmaceuticals Inc. (NasdaqNM:ALNY - News) said on Wednesday they joined forces to develop and commercialize therapies for eye diseases, marking the second strategic alliance between the two companies.
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The deal calls for Alnylam to receive as much as $19.5 million for its work in developing treatments for age-related macular degeneration and other eye diseases caused by abnormal growth or leakage of small blood vessels in the eye.
The deal incorporates Alnylam's existing program to develop its RNAi treatment for age-related macular degeneration, a key cause of blindness.
Alnylam will receive an unspecified initial cash payment from Merck and additional cash payments upon the achievement of specified progress milestones.
The two companies also will fund the development of, and share the profits from, any RNAi drugs for the United States that result from the collaboration.
Alnylam will also have the option to co-promote these therapeutics in the United States. Marketing and sales outside the United States will be conducted by Merck, with Alnylam receiving royalties.
In September 2003, Merck and Alnylam entered into the first major collaboration in which Merck provided Alnylam with a series of compounds to test as potential drug targets for treatment of eye diseases. |
