Avid about RNAi, Merck has agreed to pay $1.1 billion to buy Sirna Therapeutics, acquiring its stock at more than twice its closing price on Monday. Although still some years from commercialization, there is growing evidence that RNA molecules can be used to block proteins linked to a host of diseases like cancer, hepatitis C and more. Merck has also has a collaboration pact with Alnylam, a leader in the field of RNAi. But Alnylam recently shelved its program for wet, age-related macular degeneration, citing competition in the field. Sirna's lead drug candidate, Sirna-027, is also being developed as a treatment for wet, age-related macular degeneration. RNAi has surged in prominence this year, particularly after Andrew Fire and Craig Mello won the Nobel Prize this year for their work in the field.
"RNAi is a powerful enabler of drug discovery in cells, in animals, and in humans. We can potentially use this technology to target the activity of genes which control the activity of cancer cells, and so produce their destruction without damaging normal cells," said Stephen H. Friend, M.D., Ph.D., executive vice president and franchise head, Oncology and Neuroscience, Merck Research Laboratories.
- here's the Washington Post report for more
- and here's the release
ALSO: News of the buyout boosted Alnylam's share price as well. Report