Alnylam and Inex Forge Discovery and Development Alliance
Deal covers potential RNAi therapeutics with Inex’ lipid-based delivery formulations.!--h2>
Alnylam Pharmaceuticals obtained a worldwide exclusive license to Inex Pharmaceuticals’ liposomal delivery formulation technology for the discovery, development, and commercialization of RNAi therapeutics.
As part of this deal, Inex will receive three InterfeRx™ license options to develop its own RNAi therapeutic products. The company will also receive exclusive access to Alnylam's intellectual property to develop oligonucleotide drugs that act through an immune stimulation mechanism outside the RNAi pathway.
Under the terms of the agreement, Inex will receive an upfront payment worth $8 million in newly issued Alnylam shares and/or cash. The company will be eligible to receive $13 million in milestones for each product, of which $9.5 million is due upon regulatory approval and successful commercialization with over $500 million in cumulative product sales, plus royalties on product sales.
Inex will provide contract manufacturing services on an exclusive basis for Alnylam’s products. Alnylam will make a $5-million loan for capital equipment expenditures related to manufacturing capabilities.
Additionally, the companies expanded their technology research and manufacturing alliance on lipid-based delivery technology. Inex will thus receive $4 million in R&D funding over the next two years to continue to identify and develop lipid-based delivery systems for Alnylam.