The drugmaker has signed a deal with Regulus Therapeutics to discover, develop and market microRNA-targeted therapeutics to treat inflammatory diseases, such as rheumatoid arthritis and inflammatory bowel disease. MicroRNA is one of two types of RNAi found in all human cells and affects how genes are turned on and off. Finding a way to turn off a gene that triggers disease is the sort of thing that attracts drugmakers, such as Merck, which paid $1 billion to buy Sirna Therapeutics two years ago, although siRNA is the other form of RNAi.

Anyway, Glaxo will have the option to license candidates directed at four different targets, and Regulus will receive $20 million in upfront payments, including a $15 million option fee and a $5 million note that converts into Regulus shares. Then there’s $144.5 million in milestones for each drug developed, not counting royalties. Regulus, by the way, is a joint venture between Alnylam Pharmaceuticals and Isis Pharmaceuticals. Here’s the statement for further details. Glaxo, we should note, inked a similar deal last fall with Santaris Pharma.