Tenaya signs $1.13 billion heart disease deal with Alnylam

Tenaya Therapeutics, Inc. announced on Thursday that it has entered into a strategic research collaboration with Alnylam Pharmaceuticals, Inc. to develop new treatments for heart disease. The agreement, which is valued at up to $1.13 billion, resulted in shares of the South San Francisco-based biotech firm jumping more than 11% during premarket trading sessions. The partnership focuses on a two-year research period during which the companies will work to identify treatments for up to 15 genetic causes of cardiovascular ailments. While Tenaya Therapeutics, Inc. will spearhead the initial research phase, Alnylam Pharmaceuticals, Inc. is set to manage all further drug development and will hold exclusive responsibility for the commercialization of any therapies that emerge from the collaboration. Financially, Tenaya is slated to receive up to $10 million in upfront payments and additional research funding. The bulk of the deal's value is tied to future success, with the firm eligible for milestone payments totaling $1.13 billion if the developed drugs achieve regulatory approval and commercial success. This move strengthens Alnylam's position in the cardiovascular market, where it already maintains a significant presence through its drug Amvuttra. Used to treat transthyretin amyloid cardiomyopathy (ATTR-CM), Amvuttra recorded $2.31 billion in sales throughout 2025, serving as a primary growth engine for the pharmaceutical company.