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Thecompany exhibits baseball tickets undertakes no ivan rodriguez understand obligation to publicly update or revise any statements inthis release, whether as a result of new information, future events orotherwise. For Cyclone Power TechnologiesMedia ContactWill Wellons: orCyclone Contact:Frankie Fruge: orRTI Contact:Dr. Robert Finkelstein: Copyright Business Wire 2009. CAMBRIDGE, Mass.--(Business Wire)--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeuticscompany, announced today that Novartis has elected to extend the company`s RNAitherapeutics collaboration for a fifth and final planned year, through October2010. The landmark alliance was initiated in October 2005 and is focused on thediscovery, development, and commercialization of RNAi therapeutics toward adefined number of Novartis-selected disease gene targets.
"We are thrilled that Novartis has once again elected to extend our alliance,this time for a fifth and final planned year," said John Maraganore, Ph.D.,Chief Executive Officer of Alnylam detroit tigers . "This is the second extension that Novartishas elected to make, which we believe reflects the success of our collaborativeefforts as well as the scientific progress we have made in advancing ourinnovative technology to patients jason varitek . Novartis has been an industry pioneer inrecognizing the potential of RNAi therapeutics as a new class of medicines, andwe look forward to continuing our work with them." In the Novartis-Alnylam collaboration, both companies are jointly responsiblefor RNAi discovery activities and Novartis is generally responsible fordevelopment and commercialization of RNAi therapeutic products kaline autographed bat . With theextension of the alliance term, Novartis will continue to fund collaborationresearch and development efforts conducted by Alnylam miguel cabrera . Novartis retains itsrights and conditions as per the original 2005 agreement. This includes a rightto exercise a non-exclusive platform from Alnylam, in exchange for certainpayments due upon platform license exercise, as well as an undisclosed paymentand future milestones and royalties. Further, Novartis retains certain rights topurchase Alnylam equity up to its current ownership level which is approximately13.4%.
About RNA Interference (RNAi)RNAi (RNA interference) is a revolution in biology, representing a breakthroughin understanding how genes are turned on and off in cells, and a completely newapproach to drug discovery and development detroittigers . Its discovery has been heralded as"a major scientific breakthrough that happens once every decade or so," andrepresents one of the most promising and rapidly advancing frontiers in biologyand drug discovery today which was awarded the 2006 Nobel Prize for Physiologyor Medicine ivan rodriguez . RNAi is a natural process of gene silencing that occurs inorganisms ranging from plants to mammals jason varitek . By harnessing the natural biologicalprocess of RNAi occurring in our cells, the creation of a major new class ofmedicines, known as RNAi therapeutics, is on the horizon . RNAi therapeuticstarget the cause of diseases by potently silencing specific messenger RNAs(mRNAs), thereby preventing disease-causing proteins from being made. RNAitherapeutics have the potential to treat disease and help patients in afundamentally new way.