2023-03-28 08:11:00 ET
- Silence Therapeutics ( NASDAQ: SLN ) is acquiring back exclusive worldwide rights to two siRNA drug targets for complement-mediated diseases from Mallinckrodt Pharmaceuticals ( NYSE: MNK ).
- Under the agreement, London-based Silence will gain back the rights to two undisclosed preclinical complement targets. However, SLN501, the C3 targeting program, will remain under the collaboration agreement.
- Silence will not make any upfront payment to get back the two assets but Mallinckrodt is eligible to receive future success-based milestones and royalties on net sales if the projects go ahead.
- The companies noted that they signed an agreement in July 2019 to develop and sell three siRNA drug targets aimed to silence the complement cascade in complement-mediated disorders.
- "We are very excited for the opportunity to now have two wholly owned complement assets to add to our portfolio. We continue to see substantial potential for our mRNAi GOLD platform across multiple therapeutic areas and look forward to generating more clinical data this year in cardiovascular and hematological diseases," said Silence President and CEO Craig Tooman.
- SLN +9.88% to $9.12 premarket March 28
For further details see:
Silence stock rises ~10% on deal to buy back rights to 2 drug targets from Mallinckrodt