Silence Therapeutics Achieves $10 Million Milestone Payment from AstraZeneca Collaboration
May 04 2023 - 7:00AM
Business Wire
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 that
AstraZeneca has nominated the first product candidate under its
siRNA (short interfering RNA) collaboration and will pay Silence a
$10 million option fee to advance development on an undisclosed
program.
“We are very pleased to announce this important milestone in our
collaboration with AstraZeneca,” said Craig Tooman, President and
CEO of Silence. “We expect this positive momentum to continue as we
advance the current program and initiate additional targets. We
look forward to communicating more as we achieve additional
milestones in the collaboration.”
Regina Fritsche Danielson, SVP, Early Cardiovascular, Renal and
Metabolism, BioPharmaceuticals R&D, AstraZeneca said, “This is
a very exciting first milestone in our long-term collaboration with
Silence Therapeutics and we look forward to continued successes
across our ongoing projects to address cardiovascular, renal and
metabolic diseases.”
Silence and AstraZeneca initiated a multi-target collaboration
in March 2020 focused on using Silence’s proprietary mRNAi GOLD™
platform to develop siRNA therapeutics for cardiovascular, renal,
metabolic and respiratory diseases. Under the agreement,
AstraZeneca will pay Silence an option fee of $10 million for each
selected target at the point of candidate nomination. The deal
covers up to ten targets. For each target selected, Silence is
eligible for up to $140 million in development milestones and up to
$250 million in commercialization milestones as well as tiered
royalties on net sales ranging from high single digit to low double
digit.
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
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 cash
runway and forecast operating cash flow, 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
“anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,”
“estimate,” 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
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/20230504005217/en/
Inquiries: Silence Therapeutics plc Gem Hopkins, Head of
IR and Corporate Communications ir@silence-therapeutics.com Tel: +1
(646) 637-3208
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