Silence Therapeutics to Buyback siRNA Complement Assets
March 28 2023 - 7:00AM
Business Wire
Deal gives Silence exclusive worldwide rights to two siRNA
complement assets
Silence Therapeutics plc, Nasdaq: SLN (“Silence” or “the
Company”), an experienced and innovative biotechnology company
committed to transforming people’s lives by silencing diseases
through precision engineered medicines, today announced it will be
acquiring back exclusive worldwide rights to two siRNA drug targets
under the collaboration agreement with Mallinckrodt Pharmaceuticals
for complement-mediated diseases. Under the terms of the agreement,
Silence will not make any upfront payment to get the two assets
back and Mallinckrodt is eligible to receive future success-based
milestones and low single digit royalties on net sales if the
projects advance.
“We want to thank Mallinckrodt for their excellent partnership
over the last 3 and a half years,” said Craig Tooman, President and
CEO of Silence. “We are very excited for the opportunity to now
have two wholly owned complement assets to add to our portfolio. We
continue to see substantial potential for our mRNAi GOLD™ platform
across multiple therapeutic areas and look forward to generating
more clinical data this year in cardiovascular and hematological
diseases.”
Silence entered into a collaboration agreement with Mallinckrodt
in July 2019 to develop and commercialize three siRNA drug targets
designed to silence the complement cascade in complement-mediated
disorders. Under the new agreement, Silence will gain rights back
to two undisclosed preclinical complement targets. SLN501, the C3
targeting program will remain under the collaboration
agreement.
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
need. Silence’s proprietary mRNAi GOLD™ platform can be used to
create siRNAs (short interfering RNAs) 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 rare
hematological diseases. Silence also maintains ongoing research and
development collaborations with AstraZeneca, Mallinckrodt
Pharmaceuticals and Hansoh Pharma, among others. For more
information, please visit
https://www.silence-therapeutics.com/.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and other securities laws, including
with respect to the Company’s clinical and commercial prospects,
regulatory approvals of the Company’s product candidates, potential
partnerships or collaborations or payments under new and existing
collaborations, the initiation or completion of the Company’s
clinical trials and the anticipated timing or outcomes of data
reports from the Company’s clinical trials. These forward-looking
statements are not historical facts but rather are based on the
Company's current assumptions, beliefs, expectations, estimates and
projections about its industry. 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, including those risks identified in
the Company’s most recent Admission Document and its Annual Report
on Form 20-F filed with the U.S. Securities and Exchange Commission
(the “SEC”) on March 15, 2023. 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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version on businesswire.com: https://www.businesswire.com/news/home/20230328005330/en/
Enquiries:
Silence Therapeutics plc Gem Hopkins, VP, Head of
IR and Corporate Communications ir@silence-therapeutics.com Tel: +1
(646) 637-3208
Silence Therapeutics (NASDAQ:SLN)
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