Vir and Alnylam expand deal on RNAi therapeutics for coronavirus infections

Joining the search for a coronavirus treatment, Vir Biotechnology (Nasdaq: VIR) and Alnylam Pharmaceuticals (Nasdaq: ALNY) have expanded their existing collaboration to include the development and commercialization of RNAi therapeutics targeting SARS-CoV-2, the virus that causes COVID-19.

Shares of Vir closed up 9.6% at $44.90 on Wednesday, having risen as much as 15%, while Alnylam gained 5.2% to $117.24 on the news.

Under the agreement, the companies will utilize Alnylam’s recent advances in lung delivery of novel conjugates of siRNA – the molecules that mediate RNAi – together with Vir’s infectious disease expertise and established capabilities, to bring forward one or more siRNAs to treat SARS-CoV-2 and potentially other coronaviruses as well. The collaboration will focus on development of siRNAs that Alnylam recently identified that target highly conserved regions of coronavirus RNAs.