Biopharma partners, Alnylam Pharmaceuticals and Genzyme, a subsidary of Sanofi, expand their long time collaboration by where Genzyme has invested $700 million in Alnylam.
Genzyme and Alnylam Pharmaceuticals have significantly expanded their strategic agreement to develop and commercialize treatments for rare genetic diseases.
Genzyme will have significant rights to Alnylam’s portfolio of clinical and pre-clinical stage drug candidates.
Alnylam will retain most product rights in North America and Western Europe, and will have significantly expanded development and commercial opportunities for its genetic medicine pipeline through Genzyme’s established global infrastructure in rare diseases.
Genzyme will obtain rights to commercialize worldwide three products in Alnylam’s pipeline.
Biopharma partners, Genzyme and Alnylam will co-develop and co-commercialize ALN-TTRsc, a product currently in Phase 2 development for the treatment of familial amyloid cardiomyopathy, in North America and Western Europe.
While Genzyme commercializes the product in the rest of world.
Genzyme will have the rights to two additional products after the completion of early clinical trials and will be able to choose between full global rights or co-commercialization rights, depending on the product.
Genzyme will have the option up until 2020, with the possibility of extension through the end of 2021,to develop and commercialize outside of North America and Western Europe all products being developed to treat rare genetic diseases from Alnylam’s pipeline.
Alnylam retains its rights to co-develop and co-commercialize its genetic medicine pipeline in North America and Western Europe.
Genzyme will become a major Alnylam shareholder with a stake of approximately 12% percent through a $700 million investment at a price of approximately $80/share.
Which represents a 27% premium as compared to the average share price over the last 30 days.
Alnylam will receive R&D funding, starting on January 1, 2015, for programs where Genzyme has elected to opt-in for development and commercialization.
Alnylam is eligible to receive milestones and royalties.
For further deal information visit Current Agreements (subscription required)
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