Isis Licenses ssRNAi Technology to Alnylam for $11M Up Front
Milestone payments could reach $20 million, and research funding will be $3 million for each of three years.!--h2>
Isis Pharmaceuticals licensed its ssRNAi technology to Alnylam Pharmaceuticals for up to $31 million as part of a new collaborative effort. Alnylam gets access to Isis' intellectual property and expertise concerning ssRNAi antisense drugs, and both companies will be allowed to develop drugs with the new technology.
In addition to the new collaboration, Isis and Alnylam also agreed to extend their broad cross-licensing arrangement regarding double-stranded RNAi that was established in 2004.
Under the terms of the ssRNAi agreement, Alnylam will pay Isis $11 million upon signing the deal, followed by milestone payments: $10 million when in vivo efficacy in rodents is demonstrated (or 18 months), $5 million after in vivo efficacy in nonhuman primates, and $5 million at the start of the first clinical trial with an ssRNAi drug. In addition, Alnylam will fund at least $3 million in research activities per year for three years.
Also, initially Isis is eligible to receive up to 50% of any sublicense payments due to Alnylam based on Alnylam partnering of ssRNAi products. This will decline over time as Alnylam’s investment in the technology and drugs increases. In turn, Alnylam is eligible to receive up to 5% of any sublicense payments due to Isis based on Isis’ partnering of ssRNAi products. Each firm will receive royalties on any ssRNAi products developed by the other company.
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