An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Silence Therapeutics Achieves $2 Million Research Milestone in Hansoh Pharma Collaboration
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Silence Therapeutics plc (Nasdaq: SLN) announced a $2.0 million cash payment from Hansoh Pharmaceutical Group, following the achievement of a preclinical milestone in their collaboration established in October 2021. This deal involves developing siRNAs utilizing Silence’s mRNAi GOLD™ platform for three undisclosed targets. Silence has exclusive rights to two targets outside China, while Hansoh holds rights in China. Silence also stands to gain up to $1.3 billion in additional milestones and royalties from Hansoh's net product sales.
Positive
Secured a $2.0 million cash payment from Hansoh following a preclinical milestone.
Total potential financial benefits from the collaboration could reach up to $1.3 billion in future milestones.
Exclusive rights for two targets outside of the Chinese market provide strong revenue potential.
Negative
None.
LONDON--(BUSINESS WIRE)--
Silence Therapeutics plc (Nasdaq: SLN), a leader in the discovery, development and delivery of novel short interfering ribonucleic acid (siRNA) therapeutics for the treatment of diseases with significant unmet medical need, today announced that it will receive a $2.0 million cash payment from Hansoh Pharmaceutical Group Company Limited (“Hansoh”) following the achievement of an undisclosed preclinical milestone.
Silence and Hansoh entered a collaboration in October 2021 to develop siRNAs leveraging Silence’s proprietary mRNAi GOLD™ platform for three undisclosed targets. Under the terms of the agreement, Silence has exclusive rights to the first two targets in all territories except the China region (Greater China, Hong Kong, Macau and Taiwan). Hansoh has the exclusive option to license rights to those two targets in the China region and global rights to the third target.
Hansoh made a $16 million upfront payment to Silence and Silence is eligible to receive up to $1.3 billion in additional development, regulatory and commercial milestones. This marks the first research milestone achieved under the collaboration. Silence is also eligible to receive royalties tiered from low double-digit to mid-teens on Hansoh net product sales.
About Silence Therapeutics Silence Therapeutics is developing a new generation of medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, to inhibit the expression of specific target genes thought to play a role in the pathology of diseases with significant unmet need. Silence's proprietary mRNAi GOLD™ platform can be used to create siRNAs (short interfering RNAs) that precisely target and silence disease-associated genes in the liver, which represents a substantial opportunity. Silence's wholly owned product candidates include SLN360 designed to address the high and prevalent unmet medical need in reducing cardiovascular risk in people born with high levels of lipoprotein(a) and SLN124 designed to address rare hematological diseases. Silence also maintains ongoing research and development collaborations with AstraZeneca, Mallinckrodt Pharmaceuticals, and Hansoh Pharma, among others. For more information, please visit https://www.silence-therapeutics.com/.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other securities laws, including with respect to the Company’s clinical and commercial prospects, regulatory approvals of the Company’s product candidates, the initiation or completion of the Company’s trials and the anticipated timing or outcomes of data reports from the Company’s trials. These forward-looking statements are not historical facts but rather are based on the Company's current assumptions, beliefs, expectations, estimates and projections about its industry. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including those risks identified in the Company’s most recent Admission Document and its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 17, 2022. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
