for reference, here's the march release on the isis-alnylam alliance...
Isis Pharmaceuticals Forms Strategic Alliance With Alnylam Pharmaceuticals in RNAi Therapeutics
Thursday March 11, 4:05 pm ET
Isis and Alnylam Bring Together Leading RNAi Patent Estates and Expertise to Develop RNAi Therapeutics
CARLSBAD, Calif., March 11 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS - News), the leading company focused on novel therapeutics targeting RNA, announced today that it has entered into a strategic alliance with Alnylam Pharmaceuticals, Inc., the leading RNAi therapeutics company to develop and commercialize RNAi therapeutics. The alliance combines Isis' intellectual property and development expertise with Alnylam's intellectual property and research expertise in RNAi therapeutics. The alliance provides Isis with an opportunity to realize significant value from its pioneering work in antisense mechanisms and oligonucleotide chemistry and strengthens Alnylam's RNAi therapeutics discovery and commercialization efforts.
"We are confident that Alnylam will continue to be the center of excellence in RNAi and that together we will make great progress in developing promising RNAi therapeutics," said Dr. Stanley Crooke, Chairman and CEO of Isis Pharmaceuticals. "This alliance with Alnylam is an example of our strategy to participate in all areas of RNA-based drug discovery directly and through collaborations with outstanding companies focused in specific areas such as RNAi, a potent antisense mechanism with significant therapeutic potential."
Under the terms of the agreement, Isis licensed to Alnylam its patent estate relating to antisense mechanisms and oligonucleotide chemistry for double stranded RNAi therapeutics in exchange for a $5 million technology access fee, participation in fees for Alnylam's partnering programs, as well as downstream milestone and royalty payments. Access to this technology will be exclusive to Isis and Alnylam. In addition, Alnylam and Isis will share the proceeds of any licenses Alnylam grants under its previously announced InterfeRx(TM) program that include sublicenses to Isis' patents.
The patents Isis licensed to Alnylam include the "Crooke" patents that describe fundamental mechanisms for RNase-dependent antisense activity and chemically modified oligonucleotides designed to exploit such mechanisms. The license also includes over 150 issued U.S. patents from Isis' extensive portfolio of chemistry patents for use in modifying double-stranded oligonucleotides. These exclusive licenses granted by Isis, when combined with Alnylam's fundamental intellectual property estate in RNAi, further strengthen Alnylam's industry-leading intellectual property portfolio for double stranded RNAi therapeutics.
The terms of the strategic alliance also include a $10 million minority equity investment by Isis in Alnylam. In addition, Isis will provide Alnylam with access to its state-of-the-art downstream capabilities for development and commercialization of RNAi therapeutics, including process development, bioanalytic methods, quality control, and manufacturing. Isis will retain certain rights to a limited number of targets for double-stranded RNAi drugs. Should Isis develop an RNAi-based drug that relies on Alnylam's technologies, Isis will pay Alnylam milestones and royalties.
"A key element of the collaboration is to provide Alnylam with immediate access to Isis' manufacturing facilities and expertise in oligonucleotide- based drug development," said Lynne Parshall, Isis' Executive Vice President and CFO. "This will enable Alnylam to accelerate its drug discovery and development program and defer investment in these costly facilities. Thus, this strategic alliance further enhances Alnylam's leading position in this important new drug discovery platform." |
