Seeking to complement and extend its own progress and continued focus on RNAi therapeutics, Alnylam Pharmaceuticals Inc. (ALNY: Quote) has acquired Merck & Co. Inc.'s (MRK) subsidiary Sirna Therapeutics Inc. for an upfront payment of $175 million in cash and equity.
The deal also entitles Merck to receive up to $105 million in developmental and sales milestone payments per product, as well as single-digit royalties, associated with the progress of certain pre-clinical candidates discovered by Merck and up to $10 million in milestone payments and single-digit royalties on Alnylam products covered by Sirna Therapeutics' patent estate.
ALNY closed Friday's trading at $66.27, up 2.13%.
Cubist Pharmaceuticals, Inc. (CBST: Quote) has submitted a Clinical Trial Application to the Dutch Competent Authority and Ethics Committee to initiate a first-in-human study of CB-618, a broad-spectrum beta-lactamase inhibitor to combat antibiotic resistence, in the Netherlands.
If approved by the Dutch Competent Authority and Ethics Committee, Cubist plans to conduct the proposed initial study during the first half of 2014.
CBST closed Friday's trading at $70.01, up 0.04%.
MannKind Corp.'s (MNKD: Quote) resubmitted New Drug Application for AFREZZA with an indication to improve glycemic control in adults with type 1 or type 2 diabetes is tentatively scheduled to be reviewed by an FDA panel on April 1, 2014. The FDA's final decision on AFREZZA is slated for April 15, 2014.
MNKD closed Friday's trading at $5.92, down 16.38%.
StemCells Inc. (STEM: Quote) plans to initiate a controlled phase II efficacy study of its HuCNS-SC product candidate as a treatment for spinal cord injury mid year. Enrollment of the remaining three patients in the ongoing phase I/II clinical trial in chronic spinal cord injury is expected to be completed this quarter.
STEM closed Friday's trading 8.33% higher at $1.56.
by RTT Staff Writer
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