Alnylam teams with Isis on joint startup

US-based Alnylam Pharmaceuticals has formed a joint venture (jv) company, Regulus Therapeutics, with Isis Pharmaceuticals to commercialise microRNA-derived (miRN) drugs in the US.

Regulus will combine technologies from Alnylam and Isis Pharmaceuticals to create the jv, which will be controlled by a separate management team, board of directors and scientific advisory board. The new firm will be chaired by Nobel prize winner, David Baltimore.

Alnylam added that the company will make an initial investment of USD 10m in Regulus, and will share future funding of the venture with Isis. Both Alnylam and Isis have granted the new company exclusive licenses to miRNA technology of Isis and Alnylam.

MiRN drugs are expected to be able to regulate multiple human genes with potential to treat a number of presently unmet medical needs.

Alnylam develops drugs which implement RNA-interference (RNAi) technology that works by switching off damaged or lethal genes thereby treating diseases. Alnylam reported a FY06 net loss of USD 34.6m on sales of USD 26.9m.