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Alnylam reports year-end results

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CAMBRIDGE, Mass. — Alnylam Pharmaceuticals reported revenues for 2004 of $4.3 million, compared with $200,000 for 2003, the company announced in a press release.

The company attributed the increase in revenue to a payment by development partner Merck. The two companies are collaborating on developing Alnylam’s RNAi therapeutics for ocular diseases. The two companies are currently collaborating in developing a treatment for age-related macular degeneration using RNAi technology. Clinical trials are expected to begin some time in the second half of the year, according to the release.

RNAi is a new class of drugs that acts on the mechanism used by cells to regulate the expression of genes and replication of viruses. The mechanism uses short interfering RNA to induce the destruction of target RNA using naturally occurring cellular protein machinery.