• Alnylam Pharmaceuticals Inc (NASDAQ: 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.

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