Silence Therapeutics PLC $40m Payment from AstraZeneca for Collaboration (6509Z)
25 Mayo 2021 - 1:00AM
UK Regulatory
TIDMSLN
RNS Number : 6509Z
Silence Therapeutics PLC
25 May 2021
Silence Therapeutics Receives Remaining $40 Million from
AstraZeneca as Part of Upfront Investment for Ongoing siRNA
Collaboration
- Companies on-track to initiate work on five targets within the
first three years of the collaboration
25 May 2021
LONDON, Silence Therapeutics plc , AIM: SLN and Nasdaq: SLN ("
Silence " or " the Company "), 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 receipt of the
remaining $40.0 million from AstraZeneca, a global
biopharmaceutical company, due as part of AstraZeneca's $80.0
million cash and equity investment for the siRNA collaboration
announced in March 2020. The $40.0 million is included in Silence's
reported GBP97.5 million proforma cash balance at 2020 year-end [1]
.
The companies also started work on two undisclosed targets and
are on-track to initiate work on five targets within the first
three years of the collaboration. The collaboration is focused on
leveraging Silence's proprietary mRNAi GOLD (TM) platform to
discover and develop siRNA therapeutics for cardiovascular, renal,
metabolic (CVRM) and respiratory diseases.
Mark Rothera, President and CEO of Silence, commented : "We've
made significant progress in our collaboration with AstraZeneca
over the past year and are well positioned to initiate work on five
disease targets within the first three years. This underscores our
firm commitment to rapidly advance our pipeline through both our
wholly owned programs and partnership programs."
Regina Fritsche Danielson, Senior Vice President and Head of
Research and Early Development, CVRM, BioPharmaceuticals R&D,
AstraZeneca said: "We continue to see great promise in Silence's
established siRNA platform to develop novel medicines across our
key therapy areas in cardiovascular, renal, metabolic and
respiratory diseases. We look forward to our continued partnership
and advancing our discovery efforts to address unmet medical
needs."
Under the collaboration, AstraZeneca will pay Silence an option
fee of $10 million for each selected target at the point of
candidate nomination. For each target selected, Silence is eligible
to receive up to $140 million in development milestones and up to
$250 million in commercialization milestones as well as tiered
royalties on net sales. Silence is responsible for the discovery
stage up to the point of candidate nomination at which point
AstraZeneca takes over responsibility and costs for further
development. Silence retains responsibility for manufacturing of
material to support GLP toxicology studies and Phase I clinical
studies, costs for such manufacture are covered by AstraZeneca.
Silence also has the option to negotiate for co-development of two
selected programs of its choice starting from Phase II.
Enquiries:
Silence Therapeutics plc Tel: +1 (646) 637-3208
Gem Hopkins, Head of IR and Corporate Communications
ir@silence-therapeutics.com
Investec Bank plc (Nominated Adviser and Tel: +44 (0) 20
Broker) 7597 5970
Daniel Adams/Gary Clarence
European PR Tel: +44 (0) 20
Consilium Strategic Communications 3709 5700
Mary-Jane Elliott/ Angela Gray / Chris Welsh
silencetherapeutics@consilium-comms.com
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
medical need. Silence's proprietary mRNAi GOLD(TM) platform can be
used to create siRNAs 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
iron-loading anemia conditions. Silence also maintains ongoing
research and development collaborations with AstraZeneca,
Mallinckrodt Pharmaceuticals, and Takeda, 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 and
the anticipated timing of data reports from the Company's clinical
trials. These forward-looking statements are not historical facts
but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. 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 amended Annual Report on Form 20-F filed
with the U.S. Securities and Exchange Commission on April 29, 2021.
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.
[1] GBP97.5 million proforma cash balance includes GBP37.4
million at December 31, 2020, plus GBP30.8 million net proceeds
raised in February 2021 and GBP29.3 million received from
AstraZeneca in May 2021.
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAXSLALFFEFA
(END) Dow Jones Newswires
May 25, 2021 02:00 ET (06:00 GMT)
Silence Therapeutics (LSE:SLN)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Silence Therapeutics (LSE:SLN)
Gráfica de Acción Histórica
De May 2023 a May 2024