PeptiDream Inks $2.2B Deal To Broaden Alnylam's siRNA Delivery Scope - Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals Inc ALNY and PeptiDream Inc have announced a license and collaboration agreement to discover and develop peptide-siRNA conjugates to deliver RNAi therapeutics to tissues outside the liver.
Under the alliance, Alnylam will pick out a set of receptors, and PeptiDream will tailor-make a peptide for each. Alnylam will then generate peptide-siRNA conjugates and conduct the studies needed to decide which peptide to use for drug candidates.
Under the terms of the agreement, PeptiDream will receive an upfront payment from Alnylam as well as R&D funding.
PeptiDream may also receive milestone payments up to $2.2 billion.
In addition, PeptiDream is eligible to receive low-to-mid single-digit royalties on sales on any such Alnylam products.
Price Action: ALNY shares closed at $181.83 on Thursday.