Long a partner of choice in the RNA-interference arena, Alnylam Pharmaceuticals Inc. added and subtracted R&D partners on April 8, announcing a five-year, multi-disease pact with Regeneron Pharmaceuticals Inc. that will bring it $800m up front, split between cash and equity. That same day, the RNAi pioneer and Sanofi announced that the research portion of their longstanding R&D collaboration has ended, but development work continues.
The new deal combines Alnylam’s technological expertise with Regeneron’s clinical development and commercial heft, while offering diversification to Regeneron, which...





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