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The beauty of the stock market. A company maker of a deal
Silence to receive a $20 million upfront payment, potential near- and long-term development and commercial milestones, and royalties on net sales
-- Silence will host a webinar today at 1:00 p.m. BST[1] to discuss the announcement
PLUS 2nd RNS - they’re making a further $5m investment in SLN! Double whammy!
This is massive. Re rate £3 today Imo.
This is going to go crazy up to Web at 1pm...
Company making rns - mega rns!
Just getting started. Check some of the payments to sln. Circa $750m
Get in if you can...MMs will be very short soon as the market catches up here!
One of the biggest deal on AIM!
Silence could receive up to $703 million in similar clinical, regulatory, and commercial milestone payments per asset.
The figures are very very good..
Market out for lunch, don’t miss conf call in 15min..for bod to explain the enormity of this deal.gla
My only concern is that they bought @79p.....
Watch and learn in that case..
SILENCE THERAPEUTICS AND Mallinckrodt ANNOUNCE collaboration TO DEVELOP AND COMMERCIALIZE RNAi THERAPEUTICS FOR COMPLEMENT-MEDIATED DISEASES
-- Collaboration advances Silence's proprietary platform in the growing field of RNAi technology
-- Agreement provides Mallinckrodt with an exclusive worldwide license for one preclinical asset that targets a specific protein in the complement pathway, C3 (SLN500), and an option for up to two additional assets with different complement protein targets
-- Silence to receive a $20 million upfront payment, potential near- and long-term development and commercial milestones, and royalties on net sales
-- Silence will host a webinar today at 1:00 p.m. BST[1] to discuss the announcement
LONDON and STAINES-UPON-THAMES, United Kingdom, July 18, 2019 /PRNewswire/ -- Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, and Silence Therapeutics plc (LON: SLN), a leader in the discovery, development and delivery of novel RNA[2] interference (RNAi) therapeutics for the treatment of serious diseases, today announced a collaboration that will allow the companies to develop and commercialize RNAi drug targets designed to inhibit or 'silence' the complement cascade, a group of proteins that are involved in the immune system and that play a role in the development of inflammation. These proteins are known to contribute to the pathogenesis of many diseases, including autoimmune diseases.
'Watch and learn ' - presentation about to start; should be more interesting than the tour de france.
Mallinckrodt has agreed to provide Silence with an upfront payment of $20 million. Silence is also eligible to receive up to $10 million in research milestones for SLN500 and for each optioned asset, in addition to funding for Phase 1 clinical development including GMP[4] manufacturing. Silence will fund all other preclinical activities. The collaboration provides for potential added clinical and regulatory milestone payments of up to $100 million for SLN500, as well as commercial milestone payments of up to $563 million for SLN500. Should Mallinckrodt opt to license one or two additional assets, Silence could receive up to $703 million in similar clinical, regulatory, and commercial milestone payments per asset. Silence would also receive tiered, low double-digit to high-teen royalties on net sales for SLN500 and each optioned asset.
"We are very excited by the significant potential offered by Silence's RNAi technology to meet the needs of underserved patients in a number of serious and critical conditions, and we look forward to collaborating with them to advance development of complement-targeted assets as new therapeutic options," said Steven Romano, M.D., Chief Scientific Officer and Executive Vice President of Mallinckrodt.
Can’t believe the generosity of MMs..makes a change! For holding this price for Now over 30min..
Any idea where this can go?
It was at £3.00 a few years back, but this news is a company game changer !
They are hiding a lot of trades. My £6k buy isn’t showing
They are holding this back to fill big orders I think.