Alnylam Announces Close of Investment and Expanded Agreement Related to the Tekmira-Protiva Business Combination

Agreement Expands Alnylam's Access to Key Technologies and Intellectual Property for Systemic Delivery of RNAi Therapeutics

05-Jun-2008

Alnylam Pharmaceuticals, Inc. announced the closing of its investment in and completion of its expanded agreement with Tekmira Pharmaceuticals Corporation as a result of the achievement of Tekmira's business combination with Protiva Biotherapeutics Inc. which occurred effective May 30, 2008. This agreement expands Alnylam's access to key technology and intellectual property (IP) for the delivery of RNAi therapeutics with liposomal delivery technologies.

As part of the agreement, Alnylam has made an equity investment of $5.0 million in Tekmira at a price of $2.40 per share. This investment is representative of Alnylam's continued commitment to pursuing novel delivery strategies for RNAi therapeutics. Alnylam maintains its exclusive license to Tekmira's rights to the Semple (U.S. Patent No. 6,858,225) and Wheeler (U.S. Patent Nos. 5,976,567 and 6,815,432) patents, which the company believes are required for cationic liposomal delivery. Alnylam also now has obtained expanded rights to IP controlled by Protiva prior to the combination and to new IP generated by the combined entity, the new Tekmira. Alnylam has certain rights to sub-license this Tekmira IP to its strategic partners.

Alnylam has also granted to Tekmira InterfeRx(TM) licenses to discover, develop, and commercialize RNAi therapeutics towards seven gene targets. In return for these licenses, Alnylam may be eligible to receive milestone fees and royalties. Alnylam also has the option to co-develop and co-commercialize Tekmira's PLK SNALP program being developed for the treatment of certain cancers. PLK1, the polo-like kinase 1 gene, is one of the seven gene targets for which Tekmira has received an InterfeRx license. It has been shown to be involved in the growth of certain types of solid tumors, and PLK SNALP has been shown in pre-clinical studies to selectively kill cancer cells, while sparing normal healthy cells in the same tissue. Alnylam has the right to exercise its option for this program up until the commencement of Phase II clinical trials.

https://www.bionity.com/en/news/82909/alnylam-announces-close-of-investment-and-expanded-agreement-related-to-the-tekmira-protiva-business-combination.html