Silence to get $2m milestone payment from Mallinckrodt
Silence Therapeutics announced on Friday that it would receive a $2m (£1.43m) milestone payment following the start of work on a third target being explored under its ongoing RNAi research collaboration with Mallinckrodt, for the treatment of complement pathway-mediated diseases.
The AIM-traded firm said the collaboration was focused on the development and commercialisation of RNAi therapeutics designed to inhibit, or “silence”, the complement cascade, which is a group of proteins that are involved in the immune system and play a role in the development of inflammation.
Using Silence's proprietary mRNAi ‘GOLD’, or GalNAc Oligonucleotide Discovery, platform, each target in the collaboration would be investigated before progressing into clinical development.
“Our expanding collaboration with Mallinckrodt highlights our commitment to maximise our mRNAi GOLD platform through partnerships while also advancing our pipeline of wholly-owned programs,” said president and chief executive officer Mark Rothera.
“We believe the potential for our platform to target disease-associated genes in the liver is substantial and continue to see real promise in our siRNA therapies to treat complement-mediated disorders.”
At 0839 GMT, shares in Silence Therapeutics were up 0.26% at 589.5p.