Alnylam, Novartis extend deal to develop gene silencer drugs
Biotechnology company Alnylam Pharmaceuticals Inc., said today it extended a long-standing contract with Novartis focusing on developing drugs using RNAi, or gene silencing, technology.
This marks the second extension by Novartis, as well as the fifth and final year of the contract. The contract lasts through October 2010.
Novartis will continue to fund collaboration research and development efforts conducted by Alnylam, while retaining rights and conditions. Under the deal, Novartis retains the right to exercise a non-exclusive platform from Alnylam, in exchange for certain payments, along with undisclosed payments and future milestones and royalties.
The method of gene-silencing therapies is to switch off the gene at the root of a condition, therefore shutting down the condition. The technology is being viewed as a much more targeted approach to treating conditions including cancer.
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