Pharmaceutical giant Novartis has exercised its right to buy 55,223 more shares of Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]), Alnylam said today in a statement. The purchases, for almost $1 million, allow Novartis to maintain a 13.4 percent ownership stake in the company, Alnylam said. The two companies began collaborating on RNA interference technology in 2005, and the collaboration has been extended to last through October 2010.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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