Novartis buys additional shares of Alnylam

Alnylam Pharmaceuticals Inc. of Cambridge said that Novartis AG, a Swiss drug maker with a large presence in Cambridge, has elected to fully exercise its current right to purchase 65,922 unregistered shares of Alnylam's common stock in accordance with the terms of a 2005 investor rights agreement between the two companies.

"The exercise of this right and election to purchase the maximum number of additional shares under the terms of the Agreement allows Novartis to maintain its current ownership level of Alnylam common stock of approximately 13.4 percent," Alnylam said in a press release.

To read that release, please click here.

Earlier today another Cambridge firm, CombinatoRx Inc., announced an oncology collaboration with Novartis. To read that post, please click here.
(By Chris Reidy, Globe staff)