EPO Upholds Alnylam's McSwiggen Patent - Analyst Blog
April 08 2014 - 7:00PM
Zacks
The European Patent Office (EPO) has upheld Alnylam
Pharmaceuticals, Inc.’s (ALNY) McSwiggen EP 1423406 ('406)
patent in oral opposition proceedings in Germany. Alnylam’s shares
gained around 3.9% following the news.
We note that the McSwiggen patent family has 21 granted or issued
patents around the world and it broadly describes chemical
modifications of ribo nucleic acid interference (RNAi)
therapeutics. The McSwiggen patent was obtained by Alnylam through
its acquisition of Sirna Therapeutics from Merck & Co.
Inc. (MRK). The transaction was completed last month.
Alnylam acquired Sirna for $175 million in cash and equity. Alnylam
will also pay $105 million as developmental and sales milestone
payments per product along with single-digit royalties related to
certain pre-clinical candidates discovered by Merck. Moreover,
Alnylam will pay $10 million as milestone payments and single-digit
royalties on sale of products (following commercialization) covered
by Sirna’s patent estate.
The McSwiggen patent estate forms a core component of Alnylam's
overall intellectual property estate for the development and
commercialization of RNAi therapeutics. We note that Alnylam is
currently utilizing its RNAi technology to build a pipeline for the
treatment of multiple diseases.
Alnylam’s pipeline includes candidates like ALN-PCS
(hypercholesterolemia), patisiran (transthyretin (TTR) mediated
amyloidosis or ATTR), ALN-AT3 (hemophilia), ALN-TTRsc (familial
amyloidotic cardiomyopathy) and ALN-TMP (hemoglobinopathies).
We are impressed by Alnylam’s efforts to develop its pipeline. The
company has multiple pipeline related activities in the coming
quarters. We expect investor focus to remain on the development of
the pipeline.
Alnylam, a biopharmaceutical company, presently carries a Zacks
Rank #3 (Hold). Some better-ranked stocks in the same sector
include Alexion Pharmaceuticals, Inc. (ALXN) and
Alkermes (ALKS). Both stocks hold a Zacks Rank #1
(Strong Buy).
ALKERMES INC (ALKS): Free Stock Analysis Report
ALNYLAM PHARMA (ALNY): Free Stock Analysis Report
ALEXION PHARMA (ALXN): Free Stock Analysis Report
MERCK & CO INC (MRK): Free Stock Analysis Report
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