Alnylam and Monsanto form strategic alliance
By Chris Reidy, Boston Globe Staff
Monsanto Co. and Alnylam Pharmaceuticals Inc. said
Tuesday that they have formed a strategic alliance to advance biological
technologies in the field of agriculture.
Monsanto will pay $29.2 million in upfront payments to
Alnylam, a Cambridge company that is seeking to develop drugs with its RNAi
gene-silencing technology. To date, Alnylam has no products on the market.
Under Tuesday’s agreement, Monsanto said it has received
worldwide, exclusive rights to use Alnylam’s platform technology and
intellectual property in the field of agriculture, including the ability to
grant sublicenses.
“We believe biological products have great promise in
agriculture,” Tom Adams, vice president of chemistry technology at Monsanto,
said in a statement.
Biologicals are used to complement or replace
agricultural chemical products and represent a growing segment of a roughly
$1.7 billion market in annual sales, Alnylam said.
In addition to the upfront payments, Alnylam is eligible
to receive milestone payments and additional funding for collaborative research
efforts. Alnylam is also eligible to receive royalty payments on products
utilizing Alnylam technology and intellectual property as Monsanto becomes
Alnylam’s strategic partner in agriculture for a 10-year period, the two
companies said in a press release.
Headquartered in St. Louis, Monsanto is a global provider
of technology-based solutions and agricultural products that improve farm
productivity and food quality.
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