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Silence Therapeutics agrees second licensing deal potentially worth in excess of US$1.4bn

"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," said chairman Iain Ross

Silence Therapeutics PLC -

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.

Quick facts: Silence Therapeutics PLC

Price: 456 GBX

AIM:SLN
Market: AIM
Market Cap: £377.69 m
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