Alnylam Seeks to Prove RNAi Skeptics Wrong After Layoffs, End of Novartis Deal
Summary
But Alnylam struck a more somber note late last month when it cut about 25 percent of its workers in anticipation of the end of its five-year collaboration with Swiss drug giant Novartis.Yet the end of the Novartis deal serves as reminder that Alnylam still has a lot to prove before its gene-silencing technology can be considered a success in terms of improving human health.So it’s no longer, in my mind, conceivable that this basic approach will never create medicines.” Alnylam has had no shortage of partners that are willing to bet that RNAi can live up to its promise, which includes the ability to target genes that traditional small molecule drugs haven’t been able to hit.The company hasn’t needed to raise money from the public markets since 2006 because it’s generated enough cash to keep growing from its partnerships with large drug makers, Maraganore says.But while $325 million in the bank sounds like a lot, Alnylam will likely need even more financial help from its pharma friends to complete the long and expensive journey toward FDA approval.