Friday, September 7, 2007

Alnylam teams with Isis on joint startup

Cambridge-based Alnylam Pharmaceuticals Inc. reports it has teamed up with a fellow biotechnology firm to launch a jointly owned California startup to commercialize drugs made with microRNA, or miRNA.

Regulus Therapeutics LLC, based in Carlsbad, Calif., plans to combine technologies from Alnylam and Isis Pharmaceuticals Inc., also of Carlsbad. The joint venture also features a separate management team, board of directors and scientific advisory board, chaired by Nobel laureate David Baltimore, officials said.

Alnylam executives said the company plans to make an initial investment of $10 million in Regulus, and the firm expects to share future funding of the venture with Isis. Both Alnylam and Isis have granted the new company exclusive licenses to the two owning firms' technology related to miRNA.

microRNAs are believed to be able to regulate multiple human genes with potential to treat many diseases, according to the companies.

Alnylam is focused on the development of drugs that use the potential of RNA-interference (RNAi) -- which is intended to silence certain genes -- to treat diseases. With 122 workers, the company reported a 2006 net loss of $34.6 million, on revenue $26.9 million.