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Silence Therapeutics and Mallinckrodt Initiate Work on Third Target as Part of Ongoing RNAi Research Collaboration for Complement-Mediated Diseases

Nachrichtenquelle: globenewswire
26.02.2021, 13:00  |  152   |   |   

Silence Therapeutics and Mallinckrodt Initiate Work on Third Target as Part of Ongoing RNAi Research Collaboration for Complement-Mediated Diseases

  • Silence to receive $2 million research milestone payment
  • Silence is also eligible to receive up to $2 billion in total milestone payments across all three targets and tiered double-digit royalties on net sales for each product candidate

26 February 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 the Company will receive a $2.0 million milestone payment following the initiation of work on a third target being explored under its ongoing RNAi research collaboration with Mallinckrodt plc (“Mallinckrodt”) for the treatment of complement pathway-mediated diseases.

The collaboration is focused on the development and commercialization of RNAi therapeutics designed to inhibit or ‘silence’ the complement cascade, a group of proteins that are involved in the immune system and play a role in the development of inflammation. Using Silence’s proprietary mRNAi GOLD (GalNAc Oligonucleotide Discovery) Platform, each target in the collaboration will be investigated before progressing into clinical development.

Mark Rothera, President and CEO of Silence Therapeutics, commented: “Our expanding collaboration with Mallinckrodt highlights our commitment to maximize our mRNAi GOLD Platform through partnerships while also advancing our pipeline of wholly owned programs. We believe the potential for our platform to target disease-associated genes in the liver is substantial and continue to see real promise in our siRNA therapies to treat complement-mediated disorders.

Mark C. Trudeau, President and CEO of Mallinckrodt, said: “We are pleased by the significant potential of Silence’s RNAi technology to address the unmet needs of patients suffering from a range of rare diseases as well as conditions of immune dysregulation. We look forward to working with Silence to progress IND enabling studies related to our complement pathway C3 targeting program this year.”

In July 2019, Silence received an upfront payment of $20 million from Mallinckrodt for an exclusive worldwide license to one complement target and options for up to two additional targets, 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 optioned product candidate and up to $2 billion in total milestone payments across all three targets.

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Silence Therapeutics and Mallinckrodt Initiate Work on Third Target as Part of Ongoing RNAi Research Collaboration for Complement-Mediated Diseases Silence Therapeutics and Mallinckrodt Initiate Work on Third Target as Part of Ongoing RNAi Research Collaboration for Complement-Mediated Diseases Silence to receive $2 million research milestone payment Silence is also eligible to receive up to …

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