Full Press Release Details
TEKMIRA PHARMACEUTICALS CORPORATION
MATERIAL CHANGE REPORT
Tekmira Pharmaceuticals Corporation (the Company )
Glenlyon Business Park
release announcing the material change disclosed in this material change report was issued by the Company on November 12, 2012. The news release was distributed via Globe Newswire.
On November 12, 2012, the Company entered into a settlement agreement with Alnylam Pharmaceuticals, Inc. that resolves all litigation between the companies, and has signed a new licensing agreement
that restructures the relationship and provides clarity on all intellectual property and licensing issues between the companies. The Company and AlCana Technologies, Inc. have also agreed to settle all ongoing litigation between the parties.
On November 12, 2012, the Company entered into a settlement agreement with Alnylam Pharmaceuticals, Inc. that resolves all litigation between the companies, and has signed a new licensing agreement
that restructures the relationship and provides clarity on all intellectual property and licensing issues between the companies. As a result of the restructuring and new agreements, the Company will receive $65 million within 10 days and is eligible
to receive $10 million in near-term milestone payments expected to be received in 2013.
As part of this settlement and restructuring, all previous agreements between the companies
are terminated and a new license agreement has been established that provides clear terms outlining the Company s LNP intellectual property. Under the terms of the new license agreement:
Alnylam and the Company have agreed to settle all ongoing litigation between
the parties. The parties have also agreed to a resolution of the interference proceeding related to Alnylam-owned US Patent No. 7,718,629 directed to an siRNA component in ALN-VSP. Finally, the parties have agreed to a covenant not to sue on
matters related to the current dispute in the future, which includes liquidated damages to be paid if the covenant is breached, and have also agreed to resolve any future disputes that might arise over the next three years with binding arbitration.
The Company and AlCana Technologies, Inc. have also agreed to settle all ongoing litigation between the parties. The Company
expects to enter into a cross license agreement with AlCana which will include milestone and royalty payments, and AlCana has agreed not to compete in the RNAi field for five years.
significant facts otherwise required to be disclosed in this report have been omitted.
following executive officer of the Company is knowledgeable about the material change and may be contacted respecting the change:
Executive Vice-President and Chief Financial Officer
100-8900 Glenlyon Parkway
Glenlyon Business Park
Burnaby, B.C. V5J 5J8
Telephone: (604) 419-3200