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Alnylam Pharmaceuticals (ALNY) Announces Closing of Previously Announced Alliance With Genzyme Corporation (GENZ) For Discovery, Development, And Commercialization Of RNAi Therapeutics As Genetic Medicines


2/28/2014 9:18:02 AM

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CAMBRIDGE, Mass.--(BUSINESS WIRE)--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, announced today that the previously announced alliance with Genzyme, a Sanofi company (EURONEXT: SAN and NYSE: SNY) has closed, following the expiration of the Hart-Scott-Rodino waiting period. The two companies formed the collaboration for the development and commercialization of RNAi therapeutics as genetic medicines on January 11, 2014. In consideration for the rights granted to Genzyme under the alliance and pursuant to the terms of a stock purchase agreement, Genzyme purchased 8,766,338 shares of newly issued Alnylam common stock, representing an approximately 12% ownership position, and paid the company $700.0 million in aggregate cash consideration.

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