Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ:[[ticker:ALNY]]) says that Swiss drug giant Novartis has opted to extend the companies’ research collaboration related to RNA interference treatments for a fifth year. The extension means that Novartis will continue to fund certain research and development efforts at Alnylam through October 2010. “We view this development as very positive for Alnylam because… it provides the company with additional non-dilutive R&D funding, and… it signals Novartis’ continued interest and investment in the RNA therapeutics space in general, and in Alnylam specifically,” wrote Simos Simeonidis, a biotech analyst for investment firm Rodman & Renshaw in New York, in a note to investors.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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