Roche, Alnylam RNAi deal
Roche (SWX:ROG) will pay ALNY $288.5 million up front and will make a $42.5 million investment in ALNY in return for a non-exclusive license to ALNY's RNAi technology. The companies also will collaborate to discover RNAi therapeutics against undisclosed targets to treat cancer and pulmonary, metabolic and liver diseases, and ROG will acquire ALNY's research facility in Kulmbach, Germany.
The equity investment will give ROG a 5% stake in ALNY through the purchase of about 2 million shares at $21.50, which is a 41% premium to ALNY's close of $15.20 on Friday, the last trading day before the deal was announced. ALNY also is eligible for undisclosed milestones, plus royalties. ROG may expand the deal to include other indications for additional undisclosed expansion payments. In total, the partners said the deal could be worth more than $1 billion. ...