24 Sep 2019 07:00
Silence Therapeutics to receive first research milestone for SLN500 in Mallinckrodt collaboration
24 September, 2019
LONDON, Silence Therapeutics, PLC (LON: SLN) ("Silence"), a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, today announces the triggering of the first $2 million in research milestones for SLN500 under the collaboration with Mallinckrodt Pharmaceuticals, a global biopharmaceutical company. This milestone relates to the completion of specific pre-clinical aspects of the SLN500 programme and highlights the rapid progress which has been achieved and the close working relationship between the two companies since the collaboration was entered into on 18 July 2019.
Under the terms of the agreement, Mallinckrodt has options to license up to two additional complement-targeted assets in Silence's preclinical complement-directed RNAi development program. Silence continues to work with Mallinckrodt to actively assess the two additional complement-targeted assets and further updates will be made in due course.
Dr. David Horn Solomon, Chief Executive Officer of Silence Therapeutics, commented:
"Our partnership with Mallinckrodt has proved both exciting and productive and the triggering of this first research milestone highlights the rapid progress which has been achieved to date through the collaboration. We remain committed to progressing SLN500 into clinical development and we look forward to further milestones as we rapidly develop this and potentially other innovative assets targeting the complement pathway."
Enquiries:
Silence Therapeutics plc Dr David Horn Solomon, Chief Executive Officer Dr Rob Quinn, Chief Financial Officer
| Tel: +44 (0)20 3457 6900 |
Peel Hunt LLP (Nominated Adviser and Broker) James Steel/Oliver Jackson
| Tel: +44 (0)20 7418 8900 |
European IR Consilium Strategic Communications Mary-Jane Elliott/Chris Welsh/Angela Gray silencetherapeutics@consilium-comms.com
| Tel: +44 (0) 20 3709 5700 |
US IR Westwicke Partners Peter Vozzo peter.vozzo@westwicke.com
| Tel: +1 (443) 213-0505 |
About Silence Therapeutics plc
Silence Therapeutics is developing a new generation of medicines by harnessing the body's natural
mechanism of RNA interference, or RNAi, within its cells. Its proprietary technology can selectively
inhibit any gene in the genome, specifically silencing the production of disease-causing proteins. Using
its enabling delivery systems, it has achieved an additional level of specificity by delivering its
therapeutic RNA molecules exclusively to target cells. Silence's proprietary RNA chemistries and
delivery systems are designed to improve the stability of our molecules and enhance effective delivery
to target cells, providing a powerful modular technology well suited to tackle life-threatening diseases.
For more information, please visit: https://www.silence-therapeutics.com/
About Mallinckrodt
Mallinckrodt is a global business consisting of multiple wholly owned subsidiaries that develop, manufacture, market and distribute specialty pharmaceutical products and therapies. The company's Specialty Brands reportable segment's areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; analgesics and gastrointestinal products. Its Specialty Generics reportable segment includes specialty generic drugs and active pharmaceutical ingredients. To learn more about Mallinckrodt, visit www.mallinckrodt.com.