Silence Therapeutics Achieves $4 Million in Research Milestone Payments from Hansoh Pharma Collaboration
July 11 2023 - 7:00AM
Business Wire
Silence Therapeutics plc, Nasdaq: SLN (“Silence” or “the
Company”), an experienced and innovative biotechnology company
committed to transforming peoples’ lives by silencing diseases
through precision engineered medicines, today announced that it
will receive a $4.0 million cash payment from Hansoh Pharmaceutical
Group Company Limited (“Hansoh”) following the achievement of two
undisclosed preclinical milestones.
“We are very pleased with the continued progress being made in
our Hansoh Pharma collaboration,” said Craig Tooman, President and
CEO of Silence. “Today’s news follows the $10.0 million milestone
payment we achieved in our AstraZeneca collaboration in May and
reflects our ongoing efforts to advance our partnered pipeline. We
continue to be excited about the advancement of our siRNA
technology in both partnered and proprietary programs.”
Silence and Hansoh entered a collaboration in October 2021 to
develop siRNAs (“short interfering RNAs”) leveraging Silence’s
proprietary mRNAi GOLD™ platform for three undisclosed targets.
Under the terms of the agreement, Silence has exclusive rights to
the first two targets in all territories except the China region.
Hansoh has the exclusive option to license rights to those two
targets in Greater China, Hong Kong, Macau and Taiwan, and global
rights to the third target.
Hansoh made a $16 million upfront payment to Silence and the
Company is eligible to receive up to $1.3 billion in development,
regulatory and commercial milestones. Silence is also eligible to
receive royalties tiered from low double-digit to mid-teens on
Hansoh net product sales. Today’s announcement represents the
second and third research milestone payments achieved under the
collaboration. The Company achieved the first milestone payment for
$2.0 million in April 2022.
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 zerlasiran 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/20230711209680/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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