Alnylam, Monsanto form strategic alliance

theflyonthewall.com

Monsanto Company (MON) and Alnylam Pharmaceuticals (ALNY) have formed a strategic alliance to advance biological technologies in the field of agriculture. The new alliance brings Alnylam’s broad RNAi-based intellectual property (IP) and proprietary technologies to Monsanto’s new BioDirect™ technology, which aims to deliver innovative biological solutions for farmers. Under the terms of the agreement, Monsanto receives worldwide, exclusive rights to use Alnylam’s platform technology and IP in the field of agriculture, including the ability to grant sublicenses. Monsanto will pay Alnylam $29.2 million in upfront payments. In addition, Alnylam is eligible to receive milestone payments and additional funding for collaborative research efforts. Further, Alnylam is eligible to receive royalty payments on products utilizing Alnylam technology and IP. Moreover, Monsanto becomes Alnylam’s strategic partner in agriculture for a 10-year period.

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