Silence Therapeutics PLC Silence Achieves Research Milestone Payment (7903W)
April 28 2021 - 1:00AM
UK Regulatory
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RNS Number : 7903W
Silence Therapeutics PLC
28 April 2021
Silence Therapeutics Achieves Another Research Milestone Payment
from Mallinckrodt Collaboration for Complement-Mediated
Diseases
28 April 2021
LONDON, Silence Therapeutics plc , AIM: SLN and Nasdaq: SLN ("
Silence " or " the Company "), a leader in the discovery,
development and delivery of novel short interfering ribonucleic
acid (siRNA) therapeutics for the treatment of diseases with
significant unmet medical need, today announced that it has
achieved another research milestone as part of its ongoing RNAi
collaboration with Mallinckrodt plc ("Mallinckrodt") for
complement-mediated diseases, triggering a further $2.0 million
payment to Silence.
The milestone relates to pre-clinical development work on the
SLN500 C3 targeting program, highlighting the successful ongoing
collaboration between the two companies. Silence continues to work
with Mallinckrodt to progress Investigational New Drug (IND)
enabling studies for SLN501, the first nominated product candidate
in the SLN500 program, this year.
The collaboration with Mallinckrodt is focused on the
development and commercialization of RNAi therapeutics designed to
inhibit or 'silence' the complement cascade, a group of proteins
involved in the immune system and which play a role in the
development of inflammation. Using Silence's proprietary mRNAi
GOLD(TM) platform, siRNAs engineered to inhibit each target in the
collaboration will be optimized and investigated before progressing
into clinical development.
In July 2019, Silence received an upfront payment of $20 million
from Mallinckrodt for an exclusive worldwide license to siRNAs
against one complement target, C3, and options to license siRNAs
against up to two additional targets, each of which Mallinckrodt
has exercised at $2 million per target. Under the terms of the
agreement, Silence is responsible for preclinical activities and
for executing development of each target through Phase 1, after
which Mallinckrodt will assume responsibility for clinical
development and global commercialization. Silence is also eligible
to receive tiered double-digit royalties on net sales for each
product candidate and up to $2 billion in total milestone payments
across all three targets.
Enquiries:
Silence Therapeutics plc Tel: +1 (646) 637-3208
Gem Hopkins, Head of IR and Corporate Communications
ir@silence-therapeutics.com
Investec Bank plc (Nominated Adviser and Tel: +44 (0) 20
Broker) 7597 5970
Daniel Adams/Gary Clarence
European PR Tel: +44 (0) 20
Consilium Strategic Communications 3709 5700
Mary-Jane Elliott/ Angela Gray / Chris Welsh
silencetherapeutics@consilium-comms.com
About Silence Therapeutics
Silence Therapeutics is developing a new generation of medicines
by harnessing the body's natural mechanism of RNA interference, or
RNAi, to inhibit the expression of specific target genes thought to
play a role in the pathology of diseases with significant unmet
medical need. Silence's proprietary mRNAi GOLD(TM) platform can be
used to create siRNAs that precisely target and silence
disease-associated genes in the liver, which represents a
substantial opportunity. Silence's wholly owned product candidates
include SLN360 designed to address the high and prevalent unmet
medical need in reducing cardiovascular risk in people born with
high levels of lipoprotein(a) and SLN124 designed to address iron
loading anemias. Silence also maintains ongoing research and
development collaborations with AstraZeneca, Mallinckrodt
Pharmaceuticals, and Takeda, among others. For more information,
please visit https://www.silence-therapeutics.com/.
About Mallinckrodt
Mallinckrodt is a global business consisting of multiple wholly
owned subsidiaries that develop, manufacture, market and distribute
specialty pharmaceutical products and therapies. The company's
Specialty Brands reportable segment's areas of focus include
autoimmune and rare diseases in specialty areas like neurology,
rheumatology, nephrology, pulmonology and ophthalmology;
immunotherapy and neonatal respiratory critical care therapies;
analgesics and gastrointestinal products. Its Specialty Generics
reportable segment includes specialty generic drugs and active
pharmaceutical ingredients. To learn more about Mallinckrodt, visit
www.mallinckrodt.com .
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements, including with respect to the Company's clinical and
commercial prospects. These forward-looking statements are not
historical facts but rather are based on the Company's current
expectations, estimates, and projections about its industry; its
beliefs; and assumptions. Words such as 'anticipates,' 'expects,'
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements.
These statements are not guarantees of future performance and are
subject to known and unknown risks, uncertainties, and other
factors, some of which are beyond the Company's control, are
difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders
and prospective security holders not to place undue reliance on
these forward-looking statements, which reflect the view of the
Company only as of the date of this announcement. The
forward-looking statements made in this announcement relate only to
events as of the date on which the statements are made. The Company
will not undertake any obligation to release publicly any revisions
or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of
this announcement except as required by law or by any appropriate
regulatory authority.
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