CALANDO PHARMACEUTICALS, INC. GRANTS ALNYLAM PHARMACEUTICALS A LICENSE TO DEVELOP AND COMMERCIALIZE AN RNAI THERAPEUTIC PRODUCT

Alnylam Pharmaceuticals, Inc., a leading RNAi therapeutics company, announced that it has granted Calando Pharmaceuticals, a majority-owned subsidiary of Arrowhead Research Corporation, an InterfeRx license to discover, develop, and commercialize an RNAi therapeutic utilizing a synthetic siRNA, together exclusively with Calando's proprietary delivery technology, that is directed towards a cancer target. As part of the agreement, Calando also has an option to acquire an InterfeRx license for a second target gene. Detailed financial terms were not disclosed, but include upfront, annual, and milestone payments, and royalties on sales of any products covered by the licensing agreement. BioSpace (http://www.biospace.com/news_story.aspx?StoryID=27903&full=1)