Silence Therapeutics PLC (LON:SLN) has built on its deal with the US drug developer Mallinckrodt, which is licensing two additional assets from the UK firm in a deal that could ultimately be worth in excess of US$1.4bn.
Initially, however, the figures involved are more modest. The gene silencing specialist will fund all pre-clinical activity after which it will receive a US$2mln milestone payment.
It is then eligible to receive up to US$10mln in research ‘milestones’ per complement-targeted RNAi asset, and up to US$703mln per asset in clinical, regulatory and commercial milestones.
Silence will also receive tiered, low double-digit to high-teen royalties on net sales of any finished drug.
“Alongside our other recent deals with large pharma companies, this is further validation of our science; a testament to the quality of our data and our dedication to treat serious diseases with high unmet need," Silence chairman Iain Ross said in a statement.
Silence inked its initial two-asset tie-up with Mallinckrodt almost a year ago and the American group became an investor in the business.
The UK drug research group, which plans to list on the Nasdaq growth market, also has tie-ups with AstraZeneca and Takeda.