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Novartis deal over, Alnylam plans layoffs

Fri, 09/24/2010 - 6:34am
Mass High Tech: The Journal of New England Technology

Cambridge RNAi-focused biotech Alnylam Pharmaceuticals Inc. is planning to cut up to 30 percent of its workforce as the company completes the last year of a five-year alliance with Novartis.

The layoffs are expected to save Alnylam about $25 million in operating expenses next year. The company noted that it plans to end 2010 with more than $325 million in cash.

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