Isis To Receive $7.5 Mln From Alnylam-Genzyme Alliance

(RTTNews) - Isis Pharmaceuticals, Inc. (ISIS) said it would receive $7.5 million from Alnylam Pharmaceuticals, Inc. (ALNY) out of the recently announced alliance between Genzyme and Alnylam.

In addition, Isis has the potential to receive royalties on products and a portion of future milestone payments.

Isis said its innovation in RNA-based drug discovery has enabled it to create a broad and extensive patent position that covers many key discoveries for the RNA therapeutic space.

Lynne Parshall, chief operating officer, said, ''The breadth and depth of our patent estate has allowed us to create a number of relationships, such as the one we have with Alnylam, that enhance our leadership in the field. Our technology supports RNA-based drug discovery efforts for us and our partners and allows our partners access to our technology.''

Isis has so far generated well over $400 million from the sales and licensing of its intellectual property, including more than $50 million from Alnylam's collaborations.

Alnylam said earlier in the day that it has significantly expanded its strategic agreement with Genzyme to develop and commercialize treatments for rare genetic diseases. As part of the expanded relationship, Genzyme will invest $700 million to become a major Alnylam shareholder.

Isis closed down 0.8 percent at $47.22, but added 1.7 percent in the extended trade.

ALNY surged 41 percent to close at $93.28.