Ribopharma in all share merger with Alnylam

Kulmbach, Germany-headquartered Ribopharma AG has merged with the USA's Alnylam Pharmaceuticals in a stock-for-stock deal that creates a leading biotechnology concern in the field of gene-silencing, also known as RNAi-interference. The deal, which has been approved by both boards, remains subject to shareholder approval.

The newly-formed entity, to be headquartered in Massachusetts, USA, and called Alnylam Holding, will have total paid-in capital of around $43 million following the securing of an additional $24.6 million injection of private equity financing, announced at the same time as the merger.

Alnylam chief executive John Maraganore said that he hopes to have drug candidates in clinical trials "within the next two or three years," as the company targets RNAi-based therapeutics to meet previously unmet medical needs for a range of important diseases, including cancer and viral illnesses. Dr Maraganore also pointed towards the "formidable" intellectual property estate that Alnylam now possessed as an underlying strength of the business.