Alnylam earns $10 million from Takeda alliance

US RNAi therapeutics company Alnylam Pharmaceuticals (Nasdaq: ALNY) says that it has earned a $10 million technology transfer payment from Japan’s Takeda Pharmaceutical (TSE: 4502) as part of the strategic alliance the companies formed in May 2008.

This payment is related to the achievement of certain pre-defined objectives in the transfer of Alnylam’s platform technology, including documents, materials and know-how, to Takeda for the development of RNAi therapeutics. Alnylam had previously received $140 million in upfront and technology transfer payments from Takeda under the terms of the deal that is worth a potential $1 billion to the US firm. Alnylam is also eligible to receive significant milestones and royalties related to the Takeda’s successful advancement of RNAi therapeutic products, and has retained certain product opt-in rights in the US market.

The agreement provides Takeda with broad, worldwide, non-exclusive access to and enablement with Alnylam’s RNAi therapeutics platform technology and intellectual property in the fields of oncology and metabolic disease, with the right to expand the number of therapeutic fields in the future. In addition, it includes a collaboration and cross-license of delivery technologies between the two companies, and a drug discovery collaboration on certain RNAi targets.