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Alnylam Eyes Cambridge Expansion Following $2B Blackstone Financing

Following Blackstone’s $2-billion investment in Alnylam Pharmaceuticals, the Cambridge, MA-based life sciences company said Monday it was in discussions with Blackstone portfolio company BioMed Realty about expanding its space.

Alnylam didn’t specify how large the expansion would be. The company has occupied 295,000 square feet at BioMed’s 675 W. Kendall St. in Cambridge since 2018, taking over space formerly occupied by Vertex.

The strategic collaboration with Blackstone Life Sciences includes $1 billion to buy 50% of the future royalties and commercial milestones of Alnylam’s high cholesterol treatment inclisiran—currently under review by the U.S. Food and Drug Administration—and up to $150 million to develop Alnylam’s cardiometabolic programs vutrisiran and ALN-AGT.

Blackstone’s GSO Capital Partners will also provide Alnylam with a term loan of up to $750 million. Additionally, Blackstone will buy $100 million worth of newly-issued Alnylam stock.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).