Alnylam Announces Appointment of Peter Kellogg to Board of Directors

Rhea-AI Summary

Alnylam Pharmaceuticals (Nasdaq: ALNY) has announced the appointment of Peter Kellogg to its Board of Directors. This move is seen as pivotal as the company aims to advance its P⁵x25 strategy and enhance its commercial performance. Kellogg brings extensive experience from top biopharmaceutical companies, including Biogen, Merck, and Celgene, where he played a crucial role in financial operations and corporate strategy. His expertise is anticipated to bolster Alnylam’s efforts in developing RNA interference therapeutics aimed at addressing unmet medical needs.

Positive

• Appointment of Peter Kellogg enhances strategic leadership.
• Kellogg's experience in biopharmaceuticals may improve financial performance.
• Expected advancement of Alnylam's P5x25 strategy.

Negative

• Concerns over continuity and potential experience gaps in leadership.

– Experienced Business and Financial Leader, Kellogg Served as Chief Financial Officer at Biogen, Merck, and Celgene –

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) the leading RNAi therapeutics company, announced today the appointment of Peter Kellogg to its Board of Directors. Mr. Kellogg is an accomplished industry executive with extensive global financial and strategic management experience.

“Mr. Kellogg joins our Board at a pivotal moment for Alnylam as we continue on the path to achieving our P⁵x25 strategy and fulfilling our ambition to become a top-tier biopharmaceutical company,” said Yvonne Greenstreet, MBChB, Chief Executive Officer of Alnylam. “His financial expertise and experience in organizational scaling will help advance our leading scientific capabilities and commercial performance, ultimately contributing to our mission of transforming patients’ lives.”

Throughout his career, Mr. Kellogg played a critical role at leading biopharmaceutical companies with responsibility for core financial functions, including investor relations, corporate strategy, business development and alliance management. He most recently served as EVP, Chief Corporate Strategy Officer and had previously served as EVP, Chief Financial Officer at Celgene Corporation where he was instrumental in the consistent, year-over-year delivery of strong operating results up through the Company’s acquisition in 2019 by Bristol Myers Squibb. Prior to Celgene, Mr. Kellogg held the position of Chief Financial Officer at Merck & Co., Biogen Inc., and Frito Lay International, a division of PepsiCo, Inc. Currently, Mr. Kellogg serves as a member of the Board of Directors of Idorsia Ltd.

“Alnylam has an impressive track-record and has shown tremendous promise in progressing RNAi therapeutics with the potential to truly impact human health,” said Peter Kellogg, “I’m excited to join Alnylam’s Board of Directors and bring my passion and experience to this Company as it continues to grow commercially and strives to reach more patients in need.”

About Alnylam Pharmaceuticals

Alnylam (Nasdaq: ALNY) has led the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare and prevalent diseases with unmet need. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach yielding transformative medicines. Since its founding 20 years ago, Alnylam has led the RNAi Revolution and continues to deliver on a bold vision to turn scientific possibility into reality. Alnylam’s commercial RNAi therapeutic products are ONPATTRO^® (patisiran), GIVLAARI^® (givosiran), OXLUMO^® (lumasiran), AMVUTTRA^® (vutrisiran) and Leqvio^® (inclisiran) being developed and commercialized by Alnylam’s partner, Novartis. Alnylam has a deep pipeline of investigational medicines, including multiple product candidates that are in late-stage development. Alnylam is executing on its “Alnylam P⁵x25” strategy to deliver transformative medicines in both rare and common diseases benefiting patients around the world through sustainable innovation and exceptional financial performance, resulting in a leading biotech profile. Alnylam is headquartered in Cambridge, MA. For more information about our people, science and pipeline, please visit www.alnylam.com and engage with us on Twitter at @Alnylam, on LinkedIn, or on Instagram.

Alnylam Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical statements of fact regarding Alnylam’s expectations, beliefs, goals, plans or prospects including, without limitation expectations regarding, Alnylam’s aspiration to become a leading biotech company and the planned achievement of its “Alnylam P⁵x25” strategy, the potential for Alnylam to identify new potential drug development candidates and advance its research and development programs, Alnylam’s ability to obtain approval for new commercial products or additional indications for its existing products, and Alnylam’s projected commercial and financial performance should be considered forward-looking statements. Actual results and future plans may differ materially from those indicated by these forward-looking statements as a result of various important risks, uncertainties and other factors, including, without limitation: the direct or indirect impact of the COVID-19 global pandemic or any future pandemic on Alnylam’s business, results of operations and financial condition and the effectiveness or timeliness of Alnylam’s efforts to mitigate the impact of the pandemic; Alnylam’s ability to attract and retain talent and to successfully execute on its “Alnylam P⁵x25” strategy; Alnylam's ability to discover and develop novel drug candidates and delivery approaches, including using Alnylam’s IKARIA and GEMINI platforms, and successfully demonstrate the efficacy and safety of its product candidates; the pre-clinical and clinical results for its product candidates, including ALN-APP, patisiran and vutrisiran; actions or advice of regulatory agencies and Alnylam’s ability to obtain and maintain regulatory approval for its product candidates, including patisiran and vutrisiran, as well as favorable pricing and reimbursement; successfully launching, marketing and selling its approved products globally; delays, interruptions or failures in the manufacture and supply of its product candidates or its marketed products; obtaining, maintaining and protecting intellectual property; Alnylam’s ability to successfully expand the indication for ONPATTRO or AMVUTTRA in the future; Alnylam's ability to manage its growth and operating expenses through disciplined investment in operations and its ability to achieve a self-sustainable financial profile in the future without the need for future equity financing; Alnylam’s ability to maintain strategic business collaborations; Alnylam's dependence on third parties for the development and commercialization of certain products, including Novartis, Sanofi, Regeneron and Vir; the outcome of litigation; the potential impact of a current government investigation and the risk of future government investigations; and unexpected expenditures; as well as those risks more fully discussed in the “Risk Factors” filed with Alnylam's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and in its other SEC filings. In addition, any forward-looking statements represent Alnylam's views only as of today and should not be relied upon as representing its views as of any subsequent date. Alnylam explicitly disclaims any obligation, except to the extent required by law, to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005250/en/

Alnylam Pharmaceuticals, Inc.



Christine Regan Lindenboom

(Investors and Media)

+1-617-682-4340



Josh Brodsky

(Investors)

+1-617-551-8276

Source: Alnylam Pharmaceuticals, Inc.

FAQ

Who is Peter Kellogg and what is his role at Alnylam Pharmaceuticals?

Peter Kellogg has been appointed to the Board of Directors at Alnylam Pharmaceuticals, bringing extensive experience from leading biopharmaceutical companies.

What is the significance of Peter Kellogg's appointment for Alnylam Pharmaceuticals?

Kellogg's appointment is seen as pivotal for advancing Alnylam's P5x25 strategy and enhancing its commercial performance.

How does Peter Kellogg's experience benefit Alnylam Pharmaceuticals?

His background in financial and strategic management at top companies is expected to strengthen Alnylam's operational and commercial efforts.

What is Alnylam Pharmaceuticals' P5x25 strategy?

It is Alnylam's strategy aimed at delivering transformative RNAi therapeutics for both rare and common diseases.