Pharma BD Deal Intelligence
Sanofi's Genzyme unit paid $700M for a 12% Alnylam stake plus expanded rights to its RNAi rare-disease pipeline including patisiran — a bust. Sanofi unwound most of the alliance in 2018, kept only fitusiran, then sold its equity stake at a loss in 2019 just before Alnylam's valuation took off.
Alnylam CEO John Maraganore: 'This new relationship with Genzyme is transformational for Alnylam. It is a game changer for both the advancement of RNAi…
PharmaTimes reports Sanofi/Genzyme spent $700 million for an approximately 12% stake in Alnylam, summarizing the expanded RNAi rare-disease collaboration…
Retrospective noting Sanofi and Alnylam concluded the research phase of their RNAi alliance, reviewing how the 2014 collaboration evolved over its term.
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Sanofi's Genzyme unit paid Alnylam approximately $700M for a 12% equity stake plus expanded ex-U.S. rights to Alnylam's RNAi rare-disease pipeline including patisiran. The deal anchored Sanofi's bet on RNAi as a platform and was one of the largest equity-plus-rights packages of 2014.
Assessment window: 5yr post-close.
Hereditary ATTR amyloidosis is a rare, progressive, multisystem genetic disease caused by mutations in the TTR gene that produce misfolded transthyretin protein, which deposits as amyloid fibrils in peripheral nerves, the heart, and GI tract. Untreated, the polyneuropathy form is debilitating and fatal within roughly 5-15 years of symptom onset, with very limited disease-modifying options before 2018.
At deal signing in January 2014, Pfizer's tafamidis (Vyndaqel) was the only TTR-targeting agent on the market, and only outside the US, leaving hATTR patients globally with essentially no disease-modifying options beyond off-label diflunisal and liver transplant. Alnylam's RNAi platform was the most advanced gene-silencing approach, with patisiran in Phase 3 (APOLLO) and revusiran in development for ATTR cardiomyopathy. The Sanofi-Genzyme deal anchored RNAi as a credible rare-disease modality after Merck, Roche, and Novartis had abandoned the technology between 2006-2010 over delivery hurdles. Patisiran (Onpattro) ultimately became the first FDA-approved RNAi therapeutic in August 2018, validating the platform; Ionis/Akcea's antisense competitor Tegsedi (inotersen) followed weeks later. The 2018 restructuring returned full ATTR rights to Alnylam and gave Sanofi global rights to fitusiran for hemophilia, with Sanofi taking up to 25% royalties on patisiran in territories it relinquished. Today the hATTR market is contested across patisiran, vutrisiran (Amvuttra), inotersen, and the tafamidis franchise (Vyndaqel/Vyndamax), with TTR silencers competing against TTR stabilizers.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Sanofi SA / Alnylam Pharmaceuticals Inc. (this deal) | 2014 | $700M | 36 |
| Sanofi SA / Regeneron Pharmaceuticals, Inc. | 2007 | $1.0B | 97 |
| Sanofi SA / Synthelabo S.A. | 1998 | $11.0B | 84 |
| Sanofi SA / Genzyme Corporation | 2011 | $20.1B | 84 |
| Sanofi SA / Amunix Pharmaceuticals Inc. | 2021 | $1.2B | 76 |
| Sanofi SA / Genzyme Corporation | 2010 | $18.5B | 75 |
| Sanofi SA / Translate Bio Inc. | 2018 | $805M | 73 |
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