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news.Alnylam Pharmaceuticals, a RNAi therapeutics company, has earned a $20 million technology transfer milestone payment from Takeda Pharmaceutical Company as part of the strategic alliance the companies formed in May 2008.
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This payment is related to the transfer of Alnylam’s platform technology, including documents, materials, and know-how, to Takeda for the development of RNAi therapeutics.
Alnylam has already received a $100 million upfront payment from Takeda upon deal execution. Upon earning this $20 million, there remains an additional $30 million in expected near-term technology transfer milestone payments.
The Alnylam-Takeda alliance, which is valued at potentially over $1 billion, represents the first major RNAi therapeutics partnership between a Japanese pharmaceutical company and a US biotechnology company.
Barry Greene, president and COO of Alnylam, said: “We look forward to continuing our efforts in this strategic collaboration which is focused on advancing the development of RNAi therapeutics on a global basis, including Alnylam’s right to co-develop and co-commercialize certain Takeda RNAi therapeutic products in the US market.”