Silence Therapeutics To Develop Two More RNA Assets For Mallinckrodt

(Alliance News) - Silence Therapeutics PLC on Thursday announced Mallinckrodt PLC has exercised ...

Alliance News 16 July, 2020 | 2:28PM
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(Alliance News) - Silence Therapeutics PLC on Thursday announced Mallinckrodt PLC has exercised the option to obtain exclusive licenses for two more complement-targeted RNAi assets from the company.

The London-based RNA therapeutics company will receive a USD2 million payment when it starts working on each asset.

Silence Therapeutics is eligible to receive up to USD10 million in research milestones for each asset and up to USD703 million per asset in clinical, regulatory and commercial milestones.

The collaboration between Silence Therapeutics and Dublin-based pharmaceutical company Mallinckrodt, announced in July 2019, is aimed at the development and commercialisation of RNA therapeutics designed to inhibit the complement cascade, a group of proteins that are known to contribute to many diseases, including autoimmune diseases.

Silence Therapeutics will be responsible for preclinical activities as well as the execution of the development programme of each asset until the end of phase one.

Mallinckrodt will take on the clinical development as well as the responsibility for the global commercialisation of the assets. Mallinckrodt will also fund phase one.

In addition to this, Mallinckrodt and Silence Therapeutics are already collaborating on the development of a RNAi therapeutic designed to target C3.

Silence Executive Chair Iain Ross said: "Over the last year we have made great progress in our collaboration with Mallinckrodt and we are very pleased that they have exercised their option over two further complement targets."

Silence shares were up 0.5% at 430.00 pence each on Thursday afternoon in London.

By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Silence Therapeutics PLC 457.00 GBX -3.38 -

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