Silence Therapeutics PLC R&D Update (4780H)
March 25 2020 - 2:01AM
UK Regulatory
TIDMSLN
RNS Number : 4780H
Silence Therapeutics PLC
25 March 2020
Silence Therapeutics Announces R&D Update
25 March 2020
Re- prioritisation and acceleration of R&D pipeline due to
strengthened balance sheet
SLN360 brought forward as priority asset, new clinical protocol
for SLN124
LONDON, Silence Therapeutics plc (LON: SLN) ("Silence" or "the
Company"), a leader in the discovery, development and delivery of
novel RNA therapeutics for the treatment of serious diseases, today
announces an acceleration and re- prioritisation of its proprietary
pipeline assets. This follows today's announcement that the Company
will receive a $60 million cash payment and a further $20 million
equity investment from AstraZeneca(1) .
Due to the significant strengthening of the Company's balance
sheet, the Board has taken the decision to accelerate SLN360, an
Lp(a) targeting siRNA for the potential treatment of cardiovascular
disease. The asset has been re-allocated as Silence's highest
priority development programme as a result of the high and
prevalent unmet medical need and the excellent preclinical profile.
The Company intends to submit an Investigational New Drug (IND)
application with the U.S. Food and Drug Administration (FDA) later
this year and thereafter commence a first in man study with a view
to generating interim data around the middle of 2021.
For SLN124, in view of the COVID-19 outbreak and to ensure the
integrity of safety monitoring procedures for patients, we have
decided to pause patient recruitment under the current protocol.
The Company will recommence patient recruitment under a new and
broader protocol when appropriate. As a result, the Company now
aims to report interim data for SLN124 in the first half of 2021.
The Company is pleased to confirm that it has been notified by the
FDA that SLN124 has been granted Rare Pediatric Disease designation
for the treatment of <BETA> Thalassemia.
COVID-19
We remain cognisant of the potential impact of coronavirus
(COVID-19) on our operations and have taken the steps necessary to
maintain the integrity of the Company's assets and the health and
wellbeing of our employees.
Iain Ross, Executive Chairman at Silence Therapeutics,
commented: "The potential of our highly innovative proprietary RNAi
pipeline assets to treat diseases with poor treatment options has
been further highlighted by the recent investment from AstraZeneca.
We are now well capitalised to further accelerate our pipeline
towards clinical development with a focus on assets which we
believe will transform the lives of patients."
For more information, please contact:
Silence Therapeutics plc Tel: +44 (0)20 3457
Iain Ross, Executive Chairman 6900
Rob Quinn, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker) Tel: +44 (0)20 7418
James Steel/Oliver Jackson 8900
European IR Tel: +44 (0) 20
Consilium Strategic Communications 3709 5700
Mary-Jane Elliott/Chris Welsh/Angela Gray
silencetherapeutics@consilium-comms.com
US IR Tel: +1 (443) 213-0505
Westwicke
Peter Vozzo
peter.vozzo@westwicke.com
Note: (1) $60 million upfront payment will be paid in tranches
with $20 million being invoiced immediately and the remaining $40
million invoiced unconditionally within 12 months.
About Silence Therapeutics plc
Silence Therapeutics is developing a new generation of medicines
by harnessing the body's natural mechanism of RNA interference, or
RNAi, within its cells. Its proprietary technology can selectively
inhibit any gene in the genome, specifically silencing the
production of disease-causing proteins. Using its enabling delivery
systems, it has achieved an additional level of specificity by
delivering its therapeutic RNA molecules exclusively to target
cells. Silence's proprietary RNA chemistries and delivery systems
are designed to improve the stability of our molecules and enhance
effective delivery to target cells, providing a powerful modular
technology well suited to tackle life-threatening diseases. Silence
Therapeutics remains focused and is determined to be responsive to
creating shareholder value as well as the appropriate growth and
development of its business. Silence Therapeutics continues to
assess a number of options in addition to its organic plan which it
believes would be additive to the Company's future growth prospects
and shareholder value, which may include equity fundraisings as
well as other strategic licensing and collaboration opportunities.
For more information, please visit:
https://www.silence-therapeutics.com/
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END
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