Healthcare Industry News: RNAi therapeutics
News Release - September 29, 2006
Alnylam Announces Management Transition Plan in Business DevelopmentCAMBRIDGE, Mass.--(HSMN NewsFeed)--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY ) announced today that Vincent Miles, Ph.D., Senior Vice President, Business Development, is planning to leave the company to pursue his interests in other areas. He will remain with Alnylam on a full-time basis through the end of the year and will then work through a transition period as the company identifies a replacement. After almost thirty years of employment in the biotechnology industry, including leadership roles in a variety of functional areas at Amersham International, Pharmacia Biotech, Millennium Pharmaceuticals, and Alnylam, Dr. Miles plans to explore new opportunities beyond business development. Barry Greene, Chief Operating Officer of Alnylam, will expand his active involvement in and assume leadership responsibilities for all business development efforts, including ongoing pharmaceutical partnership discussions and InterfeRx(TM) licensing activities.
"With the execution last week of our new alliance with Biogen Idec, the sixth major alliance during his tenure at Alnylam, Vin feels that this is a good time to leave on a high point and explore new endeavors," said John Maraganore, Ph.D., President and Chief Executive Officer of Alnylam. "Our successful track record of execution in business development has been very much a team effort, and I want to thank Vin for his leadership and outstanding contributions to this effort. We look forward to his continued work during this period of transition, and to continued friendship with Vin well into the future."
"Without question, the last three years at Alnylam have been the most exciting of my long career, helping to build a company uniquely positioned to turn one of biology's greatest discoveries into a whole new class of innovative therapies," said Dr. Miles. "I feel fortunate and proud to have contributed to this effort, and am very confident that our business development group will continue to execute on key partnership and licensing goals. I will work closely with the Alnylam team over the upcoming months to ensure a smooth transition."
Alnylam is a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi. The company is applying its therapeutic expertise in RNAi to address significant medical needs, many of which cannot effectively be addressed with small molecules or antibodies, the current major classes of drugs. Alnylam is building a pipeline of RNAi therapeutics; its lead program is in Phase I human clinical trials for the treatment of respiratory syncytial virus (RSV) infection, which is the leading cause of hospitalization in infants in the U.S. The company's leadership position in fundamental patents, technology, and know-how relating to RNAi has enabled it to form major alliances with leading companies including Merck, Medtronic, Novartis, and Biogen Idec. The company, founded in 2002, maintains global headquarters in Cambridge, Massachusetts, and has an additional operating unit in Kulmbach, Germany. Alnylam is honored to be the "emerging/mid-cap" company recipient of the 2006 James D. Watson Helix Award, the biotechnology industry's award for outstanding achievement. For more information, visit www.alnylam.com.
Alnylam Forward-Looking Statements
Various statements in this release concerning our future expectations, plans, and prospects, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: our approach to discover and develop novel drugs, which is unproven and may never lead to marketable products; obtaining, maintaining and protecting intellectual property utilized by our products; our ability to enforce our patents against infringers and to defend our patent portfolio against challenges from third parties; our ability to obtain additional funding to support our business activities; our dependence on third parties for development, manufacture, marketing, sales, and distribution of products; the successful development of our product candidates, all of which are in early stages of development; obtaining regulatory approval for products; competition from others using technology similar to ours and others developing products for similar uses; our dependence on collaborators; and our short operating history; as well as those risks more fully discussed in the "Risk Factors" section of our most recent report on Form 10-Q on file with the Securities and Exchange Commission. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. Alnylam does not assume any obligation to update any forward-looking statements.
Source: Alnylam Pharmaceuticals
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