viewSilence Therapeutics PLC

Silence Therapeutics - Mallinckrodt Exercise of Options

RNS Number : 1480T
Silence Therapeutics PLC
16 July 2020

Silence Announces Mallinckrodt Exercise of Options for Two Additional Complement Targets


Silence eligible to receive up to ~$700m milestones per target

Double-digit royalties on net sales


16 July 2020


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, today announces that Mallinckrodt plc has exercised the option, under the collaboration agreement announced in July 2019, to obtain exclusive worldwide licenses for two additional complement-targeted RNAi assets from Silence. Silence will receive a $2 million milestone payment upon initiation of work for each asset, the parties anticipate starting work on both programmes in due course.


The collaboration between Silence and Mallinckrodt is aimed at the development and commercialisation of RNA therapeutics 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.


Under the terms of the collaboration agreement, Silence will be responsible for preclinical activities and for executing the development programme of each asset until the end of Phase 1, after which Mallinckrodt will assume clinical development and responsibility for the global commercialisation of the assets. Mallinckrodt will fund Phase 1 clinical development including GMP manufacture. Silence will fund all other preclinical activities. Including the $2 million milestone outlined above, Silence is eligible to receive up to $10 million in research milestones for each asset, and up to $703 million per asset in clinical, regulatory and commercial milestones. Silence will also receive tiered, low double-digit to high-teen royalties on net sales for each asset.


In addition to the two new targets announced today, Mallinckrodt and Silence are already collaborating on the development of a RNAi therapeutic designed to target C3. IND enabling activities have been initiated for the C3 targeted programme (SLN500).


Iain Ross, Executive Chairman of Silence Therapeutics commented: "Over the last year we have made great progress in our collaboration with Mallinckrodt and we are very pleased that they have exercised their option over two further complement targets. Alongside our other recent deals with large pharma companies, this is a further validation of our science; a testament to the quality of our data and our dedication to treat serious diseases with high unmet need."




For more information, please contact:


Silence Therapeutics plc

Iain Ross, Executive Chairman

Rob Quinn, Chief Financial Officer



Tel:  +44 (0)20 3457 6900

Investec Bank plc (Nominated Adviser and Broker)

Daniel Adams/Gary Clarence


Tel:  +44 (0) 20 7597 5970

European IR

Consilium Strategic Communications

Mary-Jane Elliott/Chris Welsh/Angela Gray

[email protected]


Tel: +44 (0) 20 3709 5700



Peter Vozzo

[email protected]

 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-associated proteins. Silence's proprietary RNA chemistries and delivery systems are designed to improve the stability of molecules and enhance effective delivery to target cells, providing a powerful modular technology well suited to tackle life-threatening diseases. The Company has secured high value research and collaboration agreements with AstraZeneca, Mallinckrodt Pharmaceuticals and Takeda. For more information, please visit: https://www.silence-therapeutics.com/


About Mallinckrodt plc

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.



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

Quick facts: Silence Therapeutics PLC

Price: 435

Market: AIM
Market Cap: £360.29 m

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Market Report: FTSE 100 retreats as UK employment tumbles

Headlines from the Proactive UK newsroom. The FTSE100 was on the back foot as the new job numbers highlighted how business is suffering due to the pandemic. The blue chip-index shed 60 to 6,232. People on UK payrolls fell by 649,000 between March and June, according to the government....

on 16/7/20