Alnylam Gets Milestone From Roche
Luke Timmerman1/6/10
Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: ALNY) said today it has received an undisclosed milestone payment from its partner, Roche, for starting studies that pave the way for clinical trials of a certain drug candidate. The Roche collaboration, formed in July 2007, provided $331 million in upfront cash and equity, and could be worth more than $1 billion over time, Alnylam has said. Analyst Simos Simeonidis of Rodman & Renshaw, in a note to clients, said the milestone is positive because it shows Roche is making progress in developing RNA interference therapies, and it provides some operating cash to Alnylam without diluting the value of its stock.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
