{"id":17024,"date":"2020-04-14T17:03:09","date_gmt":"2020-04-14T15:03:09","guid":{"rendered":"https:\/\/www.hollandbio.nl\/?p=17024"},"modified":"2020-04-14T17:03:10","modified_gmt":"2020-04-14T15:03:10","slug":"blackstone-and-alnylam-enter-into-2-billion-collaboration","status":"publish","type":"post","link":"https:\/\/www.hollandbio.nl\/en\/nieuws\/blackstone-and-alnylam-enter-into-2-billion-collaboration\/","title":{"rendered":"Blackstone and Alnylam Enter Into $2 Billion Collaboration"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Blackstone and\u00a0Alnylam Pharmaceuticals have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam\u2019s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deal is anchored by Blackstone\u2019s purchase of 50 percent of the royalties owed to Alnylam on global sales of inclisiran, an investigational RNAi therapeutic for the treatment of hypercholesterolemia, currently under review by the U.S. Food and Drug Administration. Inclisiran is a twice-a-year, subcutaneously injected RNAi therapeutic that has been shown in a comprehensive Phase 3 program to reduce low-density lipoprotein (LDL) or \u201cbad\u201d cholesterol with an acceptable safety profile. If approved, this medicine is expected to help patients lower LDL cholesterol, a major risk factor for cardiovascular disease, the leading cause of mortality in the U.S. and globally.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The strategic financing collaboration, led by Blackstone Life Sciences and GSO Capital Partners (\u201cGSO\u201d), Blackstone\u2019s credit platform, is expected to enable Alnylam\u2019s achievement of a self-sustainable financial profile without need for future equity financing, accelerating the commercial potential of Alnylam\u2019s rapidly advancing product portfolio. The investment by multiple Blackstone businesses will support the development and delivery of promising medicines to the patients who need them and is one of the largest ever private financings of a biotech company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction includes the inclisiran royalty monetization, corporate debt, purchase of Alnylam equity, and funding for certain R&amp;D activities related to the clinical advancement of two Alnylam investigational RNAi therapeutic programs in cardiovascular disease.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Specifically, the transaction is comprised of the following components:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>$1 billion in committed payments, led by Blackstone Life Sciences, to acquire 50 percent of Alnylam\u2019s royalties and commercial milestones for inclisiran;<\/li><li>Up to $750 million in a first lien senior secured term loan led by GSO;<\/li><li>Up to $150 million from Blackstone Life Sciences for development of Alnylam\u2019s cardiometabolic programs vutrisiran and ALN-AGT (to be established based upon a non-binding letter of intent);<\/li><li>$100 million purchase of Alnylam common stock.<\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAlnylam is focused on building a top-tier biopharmaceutical company, advancing RNAi therapeutics as a whole new class of medicines with transformative potential for patients around the world. This exciting new relationship with Blackstone brings us much closer to that goal, securing our bridge towards a self-sustainable financial profile that we believe can now be achieved without any need for Alnylam to access the equity markets in the future,\u201d said John Maraganore, Ph.D., Chief Executive Officer of Alnylam. \u201cA central component of this strategic relationship is a partial monetization of our royalty for inclisiran. If approved, we believe this therapy holds enormous promise as a potential game-changer in hypercholesterolemia management. We are pleased to retain half of the royalties we receive from Novartis, allowing Alnylam to benefit from inclisiran\u2019s anticipated future success. We couldn\u2019t be more pleased to enter into this highly innovative arrangement with Blackstone, which has shown a significant commitment to Alnylam\u2019s future and alignment with our long-term vision.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cBlackstone is uniquely positioned to provide customized, one-stop-shop financing solutions at scale while establishing development collaborations with the world\u2019s leading biotech companies. Alnylam\u2019s RNAi technology represents one of the most promising and rapidly advancing frontiers in biology and drug development today, and aligns perfectly with our investment strategy,\u201d said Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences. \u201cOur collaboration with Alnylam provides non-dilutive access to capital to advance important new medicines in development across several disease indications including heart disease, the leading cause of death in the U.S. and globally.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe\u2019re thrilled to be able to partner with Blackstone Life Sciences to provide a customized solution for Alnylam, whose approved therapies provide important new options for patients,\u201d said Dwight Scott, Global Head of GSO. \u201cGSO\u2019s capital will support Alnylam during a period of global growth as it continues to launch its medicines and pursue innovative RNAi approaches to bring new therapies to market and ultimately to patients around the globe.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alnylam, an existing tenant of Blackstone Real Estate company BioMed Realty, is also in discussions with BioMed to expand its footprint in Cambridge, MA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source: Alnylam<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone and\u00a0Alnylam Pharmaceuticals have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam\u2019s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases. The deal is anchored by Blackstone\u2019s purchase of 50 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,43],"tags":[],"class_list":["post-17024","post","type-post","status-publish","format-standard","hentry","category-gezondheid","category-innovatieklimaat"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Blackstone and Alnylam Enter Into $2 Billion Collaboration - hollandbio<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hollandbio.nl\/en\/nieuws\/blackstone-and-alnylam-enter-into-2-billion-collaboration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone and Alnylam Enter Into $2 Billion Collaboration - hollandbio\" \/>\n<meta property=\"og:description\" content=\"Blackstone and\u00a0Alnylam Pharmaceuticals have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam\u2019s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases. 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