Blackstone To Invest Up To $2 Bln In Alnylam

(RTTNews) - Blackstone (BX) will invest up to $2 billion in Alnylam Pharmaceuticals Inc. (ALNY) to support Alnylam's advancement of RNA interference medicines.

In Monday pre-market trade, ALNY is trading at $120.30, up $3.92 or 3.37 percent.

The investment includes $1 billion in committed payments to acquire 50 percent of Alnylam's royalties and commercial milestones for high-cholesterol drug inclisiran.

Blackstone will also provide Alnylam up to $750 million of senior secured term loan, and will buy $100 million worth of Alnylam common stock.

Blackstone will invest up to $150 million for development of Alnylam's cardiometabolic programs vutrisiran and ALN-AGT.