UPDATE 1-Alnylam eyes four or more new deals; shares rise

(Adds planned deals, trials; changes dateline, previously Chicago)

NEW YORK, Jan 7 (Reuters) - Alnylam Pharmaceuticals Inc (ALNY.O), developer of a promising drug technology known as RNA interference, on Monday said it expects at least four major new collaborations by late 2010, including two or more this year with leading companies.

Alnylam, whose shares rose 3.5 percent, provided its outlook ahead of a planned appearance later Monday at the annual JP Morgan Healthcare Conference in San Francisco.

The tiny biotechnology company, whose technology is designed to shut down the body's production of harmful proteins by interfering with specific genes, in July signed a drug-development deal with Swiss drugmaker Roche Holding AG (ROG.VX) potentially worth up to $1 billion, and has a major partnership with Swiss drugmaker Novartis AG (NOVN.VX).

Alnylam said the four or more major new business deals it expects to complete by late 2010 include alliances "similar to the company's July 2007 partnership with Roche."

The company said it aims this year to ask regulators for permission to conduct human testing of another drug, possibly one to treat high cholesterol or liver cancer.

Alnylam said it now expects to have closed 2007 with cash holdings of more than $450 million, up from an earlier forecast of more than $435 million.

The Cambridge, Massachusetts-based company also said it expects to finish 2008 with more than $390 million in cash as it aims to form new delivery technology partnerships.

Alnylam shares were up $1.01 at $30.01 in morning trading on the Nasdaq. (Reporting by Ransdell Pierson with additional reporting by Susan Kelly in Chicago; editing by Maureen Bavdek)