'Why not do it now?' Alnylam's John Maraganore takes up Blackstone's $2B offer to build the final 'bridge to profitability'
When Olivier Brandicourt joined Alnylam’s board two months ago, CEO John Maraganore highlighted how the former Sanofi chief’s commercial experience would provide perspective on the biotech’s “path to financial self-sustainability.” As it turned out, at Blackstone, where he was newly named senior advisor, Nick Galakatos was contemplating playing an even bigger role on that path.
Blackstone — which has raised the bulk of a new $4.58 billion fund — is investing $2 billion in Alnylam’s RNAi machinery, $600 million of which has already exchanged hands. In return, the private equity firm gets half of the royalties that Alnylam will receive from Novartis on inclisiran, a chunk of stock $ALNY, as well as some future milestones.
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