Silence Therapeutics PLC (LON:SLN) has flagged up positive news from one of the parties it recently issued an intellectual property claim against in the UK High Courts of Justice in an attempt to extend its European patent protection.
In a stock exchange statement, Silence noted a press release from Alnylam Pharmaceutical Inc on July 7 which stated that "Alnylam and Sanofi Genzyme Initiate ATLAS Phase 3 Program with Investigational RNAi Therapeutic Fitusiran in Patients with Hemophilia A and B with or without Inhibitors ".
READ: Silence Therapeutics issues intellectual property claim iwhich could see its European patent protection extended
On July 3, Silence referenced Fitusiran within a list of Alnylam products that are being included within its claim issued in the UK courts relating to Silence's entitlement to supplementary protection certificate that extend European patent protection on those products.
Silence said it could result in the extension of its European patent protection on these products.
Supplementary protection certificates are intellectual property rights which can give up to five years of exclusivity after a patent expires.
Ali Mortazavi, chief executive officer of Silence Therapeutics, said today: "We are delighted on behalf of patients with hemophilia A and B to hear this encouraging development, further highlighting the importance of siRNA medicines, and reiterate as stated in our press release on 30 May, 2017, that we consider potential licences under our patent estate could have a significant financial effect relative to the current market capitalisation of Silence."
Silence also pointed out that a co-development deal between Alnylam and Sanofi includes a US$25mln milestone payable by the French firm upon the initiation of the first global Phase 3 clinical trial for Fitusiran as well as further payments totalling up to US$75mln upon the achievement of development and regulatory milestones for Fitusiran.
Aside from the European patent protection extension claim, Silence said in its statement earlier this month that it is also "actively continuing to uphold its patent estate in other global regions".
In May, the biotech firm said that it will be issued with a US patent to further protect its chemical modification technology.