>>CAMBRIDGE, Mass. & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 12, 2005-- Agreement Includes Alnylam Grant to Benitec of Options to InterfeRx Licenses and Reciprocal Grants of Benitec IP to Alnylam , Inc. (Nasdaq: ALNY - News), a leading RNAi therapeutics company, and Benitec Ltd. (Australian Stock Exchange: BLT - News), a leading developer of DNA-directed RNA interference therapeutics, announced today a licensing agreement covering fundamental intellectual property (IP) in the field of RNA interference (RNAi). Under the agreement, Alnylam will provide Benitec and its licensees an option to non-exclusively license Alnylam-controlled IP in the field of expressed RNAi: targeted gene silencing mediated by short interfering RNAs (siRNAs) generated from DNA constructs introduced into cells. Upon Benitec's exercise of this option, Alnylam would receive license fees and be entitled to receive milestone payments and royalties on any expressed RNAi products developed by Benitec or its licensees. Under the agreement, Benitec also provides Alnylam with reciprocal options under reciprocal terms to non-exclusively license Benitec IP for expressed RNAi and synthetic siRNAs.
In addition, Alnylam will provide Benitec with options to take up to five InterfeRx(TM) exclusive licenses to pursue synthetic RNAi therapeutics against mutually agreed, specific targets. The InterfeRx program was instituted by Alnylam to grant licenses for RNAi therapeutics against targets that fall outside Alnylam's core strategic interests. Upon the exercise of each granted InterfeRx option, Alnylam will receive license fees and be entitled to receive milestone payments and royalties on synthetic RNAi therapeutics developed by Benitec.
"This license agreement reflects Alnylam's ongoing commitment to maintain its position as the key consolidator of important intellectual property in the field of RNA interference," said John Maraganore, Ph.D., President and Chief Executive Officer of Alnylam Pharmaceuticals. "This agreement extends Alnylam's IP to uses in the field of expressed RNAi where Benitec has established a clear leadership position, and provides Alnylam access to additional key pioneering patents in the field."
Sara Cunningham, Chief Executive Officer of Benitec, said, "Alnylam's intellectual property is an extensive and significant portfolio in the industry. This agreement provides Benitec with greatly strengthened IP for our focus on DNA-directed RNAi therapeutics and the added potential to develop synthetic RNAi-based drugs." <<
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Always happy to see lawyers paid for crafting cross-licensing agreements, rather than complaint letters.
Cheers, Tuck |
