Press Release April 09, 2019

Alnylam and Regeneron Sign Potential $1 Billion RNAi Pact

The Life Sciences team represented Alnylam Pharmaceuticals, Inc. (Nasdaq:ALNY), the leading RNAi therapeutics company, in its recently announced broad collaboration with Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) for new RNA interference (RNAi) therapeutics focused on ocular and central nervous system (CNS) diseases. The companies will also jointly advance a select number of preclinical disease programs with targets expressed in the liver and treatments for C5 complement-mediated diseases.

Regeneron will invest $800 million through upfront cash and an equity investment in Alnylam, with up to additional $200 million in potential near-term milestones. The companies plan to advance programs directed to 30 targets and introduce many into clinical development during the initial five-year discovery period, which includes an option to extend. For each program, Regeneron will provide Alnylam with $5 million in funding at research program milestones, translating to the potential for approximately $30 million in annual discovery funding to Alnylam as the alliance reaches steady state.

Alnylam also announced the conclusion of the research and option phase of its 2014 RNAi therapeutics alliance with Sanofi in rare genetic diseases. The material collaboration terms for patisiran, vutrisiran (ALN-TTRsc02) and fitusiran, as previously announced, will continue unchanged. The Life Sciences team represented Alnylam when entering into this alliance in 2014, and continued its representation of Alnylam in this most recent change to the alliance.

Alnylam is leading the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare genetic, cardio-metabolic, hepatic infectious, and CNS/ocular diseases.

The Goodwin team was led by partners Kingsley Taft, Sarah Solomon and Shane Albright for the collaboration, and Gregg Katz and Jim Matarese for the financing. Other team members included, for the collaboration, counsel Kathleen Kean and associates Shannyn Henke, Ian Longacre and Erini Svokos, and for the financing, counsel Nicole Daley and William Goldberg and associate Rick Cocci