10 Dec 2018 07:00
Silence Therapeutics, PLC enters into a Settlement and License Agreement with Alnylam Pharmaceuticals
All legal proceedings, in all jurisdictions, between Silence and Alnylam are withdrawn with immediate effect
December 10, 2018
LONDON, Silence Therapeutics, PLC (LON: SLN) ("Silence" or "the Company") a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, announces today a Settlement and License Agreement with Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY). Alnylam will license patents from Silence and will pay Silence a tiered royalty on net sales of ONPATTRO™ in the EU only ranging from 0.33 percent to 1.0 percent through 2023. All legal proceedings in all jurisdictions between the companies are resolved under the settlement.
David Horn Solomon, Chief Executive Officer of Silence Therapeutics, commented:
"We are excited for the potential of ONPATTRO™ to treat patients with hereditary ATTR amyloidosis polyneuropathy as the first RNAi medicine and are looking forward to following Alnylam's achievements. At Silence Therapeutics we now look forward to focusing on advancing a pipeline of competitive and differentiated medicines that will benefit patients and caregivers."
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU No. 596/2014). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Enquiries:
Silence Therapeutics plc Dr David Horn Solomon, Chief Executive Officer David Ellam, Chief Financial Officer | Tel: +44 (0)20 3457 6900 |
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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 / 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/
SLN.L (SLN)