Alnylam Re-Negotiates RNAi Patent from Max Planck Society, Freeing it from Obligation to Maintain Jobs in Germany

NEW YORK, June 16 (GenomeWeb News) - Alnylam has amended its exclusive license of an RNAi patent application from the Max Planck Society, freeing it from certain obligations to maintain jobs and facilities in Germany, the company said today.

Under the amended agreement, Alnylam remains the exclusive licensee of the so-called "Tusch II" patent application. However, its wholly owned subsidiary Alnylam Europe, formerly Ribopharma, is no longer required to build and staff certain development and commercial capabilities in Germanythat would duplicate those in the US. In return, Alnylam will pay the Max Planck Society and other co-owners of the patent application a total of 270,000 of its shares, approximately $1.9 million at the company's current share price.

Alnylam did not provide details of its plans for future staffing at its European facility.

The Tuschl II patent application, licensed exclusively by Alnylam for therapeutic products, covers structural features of short interfering RNAs and their activity in mammalian cells. It is based on discoveries by Alnylam co-founder Thomas Tuschl that were published in 2001.