SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)

            INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
             TO RULE 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO
                          FILED PURSUANT TO RULE 13d-2

                               (AMENDMENT NO. 2)*

                          ALNYLAM PHARMACEUTICALS, INC.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  COMMON STOCK
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    02043Q107
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                DECEMBER 31, 2005
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

           [_]  Rule 13d-1(b)
           |X|  Rule 13d-1(c)
           [_]  Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


                                  Page 1 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               ARCH Venture Fund V, L.P.

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

               Delaware

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER
                                 1,532,697

------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               PN

------- ------------------------------------------------------------------------


                                  Page 2 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               ARCH V Entrepreneurs Fund, L.P.

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 Delaware

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697
------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               PN

------- ------------------------------------------------------------------------


                                  Page 3 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               ARCH Venture Partners V, L.P.

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

               Delaware

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON                       0
     WITH           ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697

------ -------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               PN

------- ------------------------------------------------------------------------


                                  Page 4 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               ARCH Venture Partners V, LLC

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 Delaware

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697

------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               OO

------- ------------------------------------------------------------------------


                                  Page 5 of 19





------ -------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               Steven Lazarus

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

               U.S.A.

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697

------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               IN

------- ------------------------------------------------------------------------


                                  Page 6 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               Keith Crandell

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

               U.S.A.

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697

------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               IN

------- ------------------------------------------------------------------------


                                  Page 7 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               Robert Nelsen

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

               U.S.A.

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697

------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               IN

------- ------------------------------------------------------------------------


                                  Page 8 of 19





------- ------------------------------------------------------------------------
  1     NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

               Clinton Bybee

------- ------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                              (a) [_]
                                                              (b) [_]

------- ------------------------------------------------------------------------
  3     SEC USE ONLY

------- ------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 U.S.A.

------- ------------------------------------------------------------------------
                      5   SOLE VOTING POWER

                                 0
   NUMBER OF        ----- ------------------------------------------------------
     SHARES           6   SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                      1,532,697
     EACH           ----- ------------------------------------------------------
  REPORTING           7   SOLE DISPOSITIVE POWER
    PERSON
     WITH                        0
                    ----- ------------------------------------------------------
                      8   SHARED DISPOSITIVE POWER

                                 1,532,697

------- ------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

               1,532,697

------- ------------------------------------------------------------------------
  10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
        (SEE INSTRUCTIONS) [_]

------- ------------------------------------------------------------------------
  11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

               5.76%

------- ------------------------------------------------------------------------
  12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

               IN

------- ------------------------------------------------------------------------


                                  Page 9 of 19





                                  SCHEDULE 13G
                                  ------------

Item 1(a).     NAME OF ISSUER:  Alnylam Pharmaceuticals, Inc. (the "Issuer").

Item 1(b).     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
               300 Third Street, Cambridge, Massachusetts 02142.

Item 2(a).     NAMES OF PERSONS FILING: ARCH Venture Fund V, L.P. ("ARCH Venture
               Fund V"); ARCH V Entrepreneurs Fund, L.P. ("ARCH V Entrepreneurs
               Fund"); ARCH Venture Partners V, L.P. ("AVP V LP"); ARCH Venture
               Partners V, LLC ("AVP V LLC") (collectively, the "Reporting
               Entities" and individually, each a "Reporting Entity"); and
               Steven Lazarus ("Lazarus"), Keith Crandell ("Crandell"), Robert
               Nelsen ("Nelsen") and Clinton Bybee ("Bybee") (collectively, the
               "Managing Directors" and individually, each a "Managing
               Director"). The Reporting Entities and the Managing Directors
               collectively are referred to as the "Reporting Persons".

Item 2(b).     ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 8725
               W. Higgins Road, Suite 290, Chicago, IL 60631.

Item 2(c).     CITIZENSHIP: ARCH Venture Fund V, ARCH V Entrepreneurs Fund, and
               AVP V LP are limited partnerships organized under the laws of the
               State of Delaware. AVP V LLC is a limited liability company
               organized under the laws of the State of Delaware. Each Managing
               Director is a US citizen.

Item 2(d).     TITLE OF CLASS OF SECURITIES: Common Stock, $.01 par value (the
               "Common Stock").

Item 2(e).     CUSIP NUMBER:  02043Q107

Item 3.        IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b)
               OR (c), CHECK WHETHER THE PERSON FILING IS A:

               None.

Item 4.        OWNERSHIP.

               (a)  Amount beneficially owned:

                    ARCH Venture Fund V is the record owner of 1,524,092 shares
                    of Common Stock (the "ARCH Venture Fund V Shares") as of
                    December 31, 2005. ARCH V Entrepreneurs Fund is the record
                    owner of 8,605 shares of Common Stock (the "ARCH V
                    Entrepreneurs Fund Shares" and, together with the ARCH
                    Venture Fund V Shares, the "Record Shares") as of December
                    31, 2005. AVP V LP is the sole general partner of ARCH
                    Venture Fund V and ARCH V Entrepreneurs Fund. AVP V LLC is
                    the sole general partner of AVP V LP. By virtue of their
                    relationship as affiliated entities who have overlapping
                    general partners and managing directors, each Reporting
                    Entity may be deemed to share the power to direct the
                    disposition and vote of the Record Shares. As individual
                    general partners or managing directors of each of AVP V LLC
                    and AVP V LP, each Managing Director


                                  Page 10 of 19





                    may also be deemed to share the power and direct the
                    disposition and vote of the Record Shares.

               (b)  Percent of class:

                    Reporting Persons: 5.76%, calculated based on 26,631,385
                    shares of Common Stock reported to be outstanding in the
                    Issuer's Form 10-Q filed with the Securities and Exchange
                    Commission on November 3, 2005.

               (c)  Number of shares as to which the person has:

                    (i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:

                            0 shares for each Reporting Person

                    (ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE:

                            Each of the Reporting Persons:  1,532,697

                    (iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:

                            0 shares for each Reporting Person

                    (iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION
                    OF:

                            Each of the Reporting Persons:  1,532,697

               Each Reporting Person disclaims beneficial ownership of such
               shares of Common Stock except for the shares, if any, such
               Reporting Person holds of record.

Item 5.        OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

               Not Applicable.

Item 6.        OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

               Not Applicable.

Item 7.        IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
               ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
               COMPANY OR CONTROL PERSON.

               Not Applicable.

Item 8.        IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

               Not Applicable. The Reporting Persons expressly disclaim
               membership in a "group" as used in Rule 13d-1(b)(ii)(J).

Item 9.        NOTICE OF DISSOLUTION OF GROUP.

               Not Applicable.


                                  Page 11 of 19



Item 10.       CERTIFICATION.

               Not Applicable. This statement on Schedule 13G is not filed
               pursuant to ss.240.13d-1(b) nor ss.240.13d-1(c).


                                  Page 12 of 19





                                   SIGNATURES
                                   ----------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated:   February 13, 2006

                        ARCH VENTURE FUND V, L.P.

                        By:  ARCH Venture Partners V, L.P.
                             its General Partner

                               By:  ARCH Venture Partners V, LLC
                                    its General Partner

                                      By:                 *
                                           -------------------------------
                                           Steven Lazarus
                                           Managing Director

                        ARCH V ENTREPRENEURS FUND, L.P.

                        By:  ARCH Venture Partners V, L.P.
                             its General Partner

                               By:  ARCH Venture Partners V, LLC
                                    its General Partner


                                      By:                 *
                                           -------------------------------
                                           Steven Lazarus
                                           Managing Director

                        ARCH VENTURE PARTNERS V, L.P.

                        By:  ARCH Venture Partners V, LLC
                             its General Partner

                               By:               *
                                    ------------------------------
                                    Steven Lazarus
                                    Managing Director


                                  Page 13 of 19





                        ARCH VENTURE PARTNERS V, LLC

                        By:               *
                             -------------------------------
                             Steven Lazarus
                             Managing Director

                                          *
                        ------------------------------------
                        Steven Lazarus

                                          *
                        ------------------------------------
                        Keith Crandell

                                          *
                        ------------------------------------
                        Robert Nelsen

                                          *
                        ------------------------------------
                        Clinton Bybee

* By: /s/Mark McDonnell
      ------------------
      Mark McDonnell as
      Attorney-in-Fact

--------------------------------------------------------------------------------

This Schedule 13G was executed by Mark McDonnell pursuant to Powers of Attorney
attached hereto as Exhibit 2 and incorporated herein by reference.

                                  Page 14 of 19






                                                                       EXHIBIT 1
                                                                       ---------

                                    AGREEMENT
                                    ---------

     Pursuant to Rule 13d-1-(k)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of stock of Alnylam Pharmaceuticals, Inc.

     This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original.

Dated:  February 13, 2006

                        ARCH VENTURE FUND V, L.P.

                        By:  ARCH Venture Partners V, L.P.
                             its General Partner

                               By:  ARCH Venture Partners V, LLC
                                    its General Partner

                                      By:               *
                                           -------------------------------
                                           Steven Lazarus
                                           Managing Director

                        ARCH V ENTREPRENEURS FUND, L.P.

                        By:  ARCH Venture Partners V, L.P.
                             its General Partner

                               By:  ARCH Venture Partners V, LLC
                                    its General Partner


                                      By:               *
                                           -------------------------------
                                           Steven Lazarus
                                           Managing Director

                        ARCH VENTURE PARTNERS V, L.P.

                          By:  ARCH Venture Partners V, LLC
                               its General Partner

                                 By:             *
                                      ------------------------------
                                      Steven Lazarus
                                      Managing Director


                                  Page 15 of 19





                        ARCH VENTURE PARTNERS V, LLC

                        By:             *
                             -------------------------------
                             Steven Lazarus
                             Managing Director

                                        *
                             ------------------------------------
                             Steven Lazarus

                                        *
                             ------------------------------------
                             Keith Crandell

                                        *
                             ------------------------------------
                             Robert Nelsen

                                        *
                             ------------------------------------
                             Clinton Bybee

* By: /s/Mark McDonnell
      ------------------
      Mark McDonnell as
      Attorney-in-Fact

--------------------------------------------------------------------------------

This Agreement was executed by Mark McDonnell pursuant to Powers of Attorney
attached hereto as Exhibit 2 and incorporated herein by reference.


                                  Page 16 of 19





                                                                      EXHIBIT 2
                                                                      ---------

                               POWERS OF ATTORNEY
                               ------------------

     KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Mark McDonnell his true and lawful
attorney-in-fact, with full power of substitution, to sign any and all
instruments, certificates and documents that may be necessary, desirable or
appropriate to be executed on behalf of himself as an individual or in his
capacity as a general partner of any partnership, pursuant to Sections 13 and 16
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in-fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 8th
day of June, 2004.

                        ARCH VENTURE FUND V, L.P.

                        By:  ARCH Venture Partners V, L.P.
                             its General Partner

                               By:  ARCH Venture Partners V, LLC.
                                    its General Partner

                                      By:  /s/ Keith Crandell
                                           -------------------
                                           Managing Director

                        ARCH V ENTREPRENEURS FUND, L.P.

                        By:  ARCH Venture Partners V, L.P.
                             its General Partner

                               By:  ARCH Venture Partners V, LLC.
                                    its General Partner

                                      By:  /s/ Keith Crandell
                                           -------------------
                                           Managing Director

                        ARCH VENTURE PARTNERS V, L.P.

                        By:  ARCH Venture Partners V, LLC
                             its General Partner

                               By:  /s/ Keith Crandell
                                    -------------------
                                    Managing Director

                        ARCH VENTURE PARTNERS V, LLC

                        By:  /s/ Keith Crandell
                             --------------------
                             Managing Director


                                  Page 17 of 19






                        /s/ Steven Lazarus
                        --------------------------
                        Steven Lazarus

                        /s/ Keith Crandell
                        --------------------------
                        Keith Crandell

                        /s/ Robert Nelsen
                        --------------------------
                        Robert Nelsen

                        /s/ Clinton Bybee
                        --------------------------
                        Clinton Bybee


                                  Page 18 of 19