Alnylam announces settlement with Silence Therapeutics
Alnylam Pharmaceuticals announced that it has resolved all litigation worldwide with Silence Therapeutics. The settlement allows Alnylam to avoid the costs and distraction associated with continued litigation in multiple countries. Under terms of the global settlement, Silence will receive a low royalty on annual net sales of ONPATTRO in the EU only, with tiered royalties of 0.33 percent to 1.0 percent through 2023. Further terms of the agreement include the grant from Silence to Alnylam of a non-exclusive, global irrevocable, license to all relevant patents and for all current and future Alnylam products, whether commercialized by Alnylam or a collaborator or licensee. Such license is fully paid up with no milestones or royalties, except for the limited royalty on ONPATTRO net sales in the EU described above. Under the agreement, all ongoing court proceedings will be dismissed and each party will bear its own attorney fees and costs incurred in the global proceedings. Terms of the settlement, which includes no admissions by any party, are otherwise confidential.