Alnylam Pharmaceuticals will implement a strategic corporate restructuring, eliminating approximately 33% of its workforce to focus resources on its Alnylam 5x15 RNAi therapeutic product strategy and ALN-TTR for the treatment of transthyretin-mediated amyloidosis (ATTR) and ALN-APC for the treatment of hemophilia, as well as other pipeline programs with existing alliances and new partnerships. Alnylam expects to save approximately $20 million in 2012 and will incur one-time restructuring costs of approximately $4 million.

John Maraganore, Ph.D., chief executive officer of Alnylam, commented, “We have made remarkable progress in advancing RNAi therapeutics as a new class of innovative medicines, including recent results demonstrating human proof of concept in our ALN-TTR program and clinical efficacy for RNAi therapeutics in our ALN-PCS program. As we effect our ongoing transformation from a platform company to a product company, now is the time to focus our near-term efforts and resources on what we believe to be our highest value opportunities, while advancing other pipeline programs through existing alliances and new partnerships that we aim to form in the future.”