Silence Therapeutics Achieves $2 Million Research Milestone in Hansoh Pharma Collaboration
April 25 2022 - 7:00AM
Business Wire
Silence Therapeutics plc (Nasdaq: SLN), 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 will
receive a $2.0 million cash payment from Hansoh Pharmaceutical
Group Company Limited (“Hansoh”) following the achievement of an
undisclosed preclinical milestone.
Silence and Hansoh entered a collaboration in October 2021 to
develop siRNAs 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 (Greater China, Hong Kong,
Macau and Taiwan). Hansoh has the exclusive option to license
rights to those two targets in the China region and global rights
to the third target.
Hansoh made a $16 million upfront payment to Silence and Silence
is eligible to receive up to $1.3 billion in additional
development, regulatory and commercial milestones. This marks the
first research milestone achieved under the collaboration. Silence
is also eligible to receive royalties tiered from low double-digit
to mid-teens on Hansoh net product sales.
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, the initiation or completion of the
Company’s trials and the anticipated timing or outcomes of data
reports from the Company’s 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 17, 2022. 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/20220425005034/en/
Silence Therapeutics plc Gem Hopkins, Head of IR and
Corporate Communications ir@silence-therapeutics.com Tel: +1 (646)
637-3208
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