Benzinga | Jul 30, 2021 09:29AM EDT

PeptiDream Inks $2.2B Deal To Broaden Alnylam's siRNA Delivery Scope

* Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) and PeptiDream Inc have announced a license and collaboration agreement to discover and develop peptide-siRNA conjugates to deliver RNAi therapeutics to tissues outside the liver.

* Under the alliance, Alnylam will pick out a set of receptors, and PeptiDream will tailor-make a peptide for each. Alnylam will then generate peptide-siRNA conjugates and conduct the studies needed to decide which peptide to use for drug candidates.

* Under the terms of the agreement, PeptiDream will receive an upfront payment from Alnylam as well as R&D funding.

* PeptiDream may also receive milestone payments up to $2.2 billion.

* In addition, PeptiDream is eligible to receive low-to-mid single-digit royalties on sales on any such Alnylam products.

* Price Action: ALNYshares closed at $181.83 on Thursday.