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Alnylam and Ribopharma Announce Merger

By Biotechdaily staff writers
Posted on 18 Jul 2003
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A merger that creates an international company with a leading position in RNA interference (RNAi)-based therapeutics has been announced by Alnylam Pharmaceuticals, Inc. (Cambridge, MA, USA) and Ribopharma AG (Kulmbach, Germany).

The combined company will have operating units in Cambridge and Kulmbach, each with specific responsibilities, with global headquarters in Cambridge. Concurrent with the merger, the new combined entity secured an additional US$24.6 million in private equity financing, making it among the best-capitalized companies in the field of RNAi-based therapeutics. The company states that it will also have formidable intellectual property, which includes patents on the fundamental technology of RNAi from Alnylam and core patents relating to product composition and therapeutic applications of RNAi from Ribopharma.

"Our combined team, intellectual property portfolio, financial resources, and drug discovery and development capabilities position us to deliver on the promise of RNAi-based therapeutics to meet unmet medical needs for many important diseases,” said Dr. John Maraganore, former president and CEO of Alnylam who will also serve as president and CEO of the merged company, called Alnylam Holding Co.





Related Links:
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Ribopharma
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