Silence Therapeutics and Alnylam Pharmaceuticals have settled for royalty on net sales of Onpattro in EU, the companies said in separate press releases Monday, noting they will dismiss court proceedings
According to the agreement about licensing patents from Silence, Alnylam will pay 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.
As noted in the Alnylam’s press release, 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, Alnylam said.
Terms of the settlement, which includes no admissions by any party, are otherwise confidential.
David Horn Solomon, Chief Executive Officer of Silence Therapeutics, said: “We are excited for the potential of Onpattro to treat patients with hereditary ATTR amyloidosis polyneuropathy as the first RNAi medicine and are looking forward to following Alnylam’s achievements. At Silence Therapeutics we now look forward to focusing on advancing a pipeline of competitive and differentiated medicines that will benefit patients and caregivers.”