From Friends To Foes: Tekmira Slaps Partner Alnylam With Lawsuit
This article was originally published in The Pink Sheet Daily
Suit alleges Alnylam stole Tekmira's RNAi delivery technology, but Alnylam dismisses the claims and says its delivery technology falls within its licensing agreement or other partnerships.
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Dicerna’s debut stood out even in a hot market for biotech IPOs, but it is hard to sort out how much investor enthusiasm was driven by its specific technologies, rub-off from the recent Alnylam/ Sanofi-Genzyme deal, and demands of insiders who wanted liquidity but not dilution.
Alnylam is paying Tekmira $65 million to resolve an RNAi trade secrets suit; the new licensing pact reduces Alnylam’s future milestone and royalty payments on three compounds and allows the firm to manufacture its own drug candidates.
Alnylam’s release of early-stage clinical data for its lead amyloidosis project in July caused a surge in its market value and rare cheers from investors. Years removed from its most recent high-profile technology deal, Alnylam is a company on the verge of completing the trickiest metamorphosis in biotech: from technology platform to product focus without the benefit of transformational M&A.