(Correcting to clarify Hansoh Pharmaceuticals Group will make an upfront payment to Silence Therapeutics PLC of USD16 million, not the other way round, and Silence may also receive milestone payments amounting to up to USD1.3 billion, not USD1.3 million as originally reported.)
Silence Therapeutics PLC - novel RNA therapeutics developer with offices in London and Berlin - Plans to delist from London's AIM market on November 29, but will retain Nasdaq listing of American depositary shares, which it says will become its primary trading venue. Believes concentrating on Nasdaq should improve liquidity of Silence shares. Calls for general meeting on November 1 to approve AIM delisting.
Separately, unveils collaboration with Chinese company Hansoh Pharmaceuticals Group to develop novel short interfering ribonucleic acid therapeutics for three undisclosed targets under Silence's mRNAi GOLD Platform. Hansoh gains exclusive option to license rights to first two targets in Greater China, Hong Kong, Macau and Taiwan once Phase 1 trials conclude. Silence to retain exclusive rights for two targets in all other territories and outside of China for post-Phase I studies.
Hansoh to make USD16 million upfront cash payment. Silence holds potential to receive up to USD1.3 billion in "additional development, regulatory and commercial milestones". Company adds: "Silence will also receive royalties tiered from low double-digit to mid-teens on Hansoh net product sales."
Current stock price: 537.00 pence
Year-to-date change: up 4.5%
By Josie O'Brien; josieobrien@alliancenews.com
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