Relive the excitement of the Patriots’ path to their fourth Super Bowl Championship with “Pumped”, a special commemorative book from The Boston Globe. Order now.

Around the Region

Alnylam, Tekmira rework accord

Alnylam Pharmaceuticals Inc., a Cambridge company looking to develop therapeutics based on RNA interference, said Monday night that it has restructured its relationship with Tekmira Pharmaceuticals Corp. of Canada with a new licensing agreement; it added that the two companies have resolved all litigation between the parties in a settlement agreement.

In a press release, Tekmira said it will receive $65 million within 10 days and is eligible to receive $10 million in near-term milestone payments expected to be received in 2013, as a result of the restructuring and new agreements.

Continue reading below

In a press release of its own, Alnylam said it will incur a $65 million charge to operating expenses during the fourth quarter of 2012 related to the restructuring of its license agreements with Tekmira. As a result, Alnylam said it is revising its financial guidance to end 2012 with greater than $215 million in cash.

The litigation involved intellectual property rights of lipid nanoparticle technology, Tekmira said.

Alnylam has scheduled a Tuesday morning conference call to discuss the matter further. Tekmira also scheduled a call for this morning.

Chris Reidy can be reached at reidy@globe.com.
Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking. Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com