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.
U.S. Markets open in 5 hrs 12 mins
S&P Futures
2,670.25-1.25(-0.05%)Dow Futures
24,410.00-23.00(-0.09%)Nasdaq Futures
6,673.50-2.75(-0.04%)Russell 2000
1,564.12-9.69(-0.62%)Crude Oil
68.12-0.28(-0.41%)Gold
1,333.40-4.90(-0.37%)Silver
17.06-0.10(-0.60%)EUR/USD
1.23-0.00(-0.31%)