Silence Therapeutics PLC - novel RNA therapeutics developer with offices in London and Berlin - Achieves further research milestone as part of ongoing RNAi collaboration with Mallinckrodt PLC for complement-mediated diseases.
Milestone payment comes up to USD2.0 million. SLN500 is being developed as a treatment for inflammation, including inflammation caused by autoimmune diseases.
In July 2019, Mallinckrodt invested USD5 million in Silence for a 6.5% stake and agreed to pay USD20 million upfront for an exclusive licence for SLN500 plus options for two more licences. Mallinckrodt may end up paying USD100 million depending on regulatory milestones for SLN500, and up to USD563 million based on commercial milestones.
Current stock price: 595.00 pence
Year-to-date change: up 16%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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