The Medicines Co., Alnylam form strategic alliance to develop RNAi Therapeutics

The Medicines Company (MDCO) and Alnylam (ALNY) announced that they have formed an exclusive global alliance for the development and commercialization of Alnylam's ALN-PCS RNAi therapeutic program for the treatment of hypercholesterolemia. Under this alliance, The Medicines Company and Alnylam intend to collaborate on the advancement of the ALN-PCS program. Alnylam will continue the program for an estimated one to two years to complete certain pre-clinical and Phase I clinical studies. The Medicines Company is responsible for leading and funding development from Phase II forward and commercializing the ALN-PCS program if successful. Under the terms of the agreement, The Medicines Company will make an upfront cash payment of $25M to Alnylam. Alnylam may also receive potential development and commercial milestone payments of up to $180M. Alnylam will be eligible to receive scaled double-digit royalties on global products sales of ALN-PCS products.