Silence Therapeutics inks collaboration deal with Hansoh Pharmaceutical

Silence Therapeutics announced a collaboration with Hansoh Pharmaceutical Group on Friday, to develop short interfering ribonucleic acids (siRNAs) for three undisclosed targets, leveraging its proprietary ‘mRNAi GOLD’ platform.

The AIM-traded firm said that under the terms of the agreement, Hansoh would have the exclusive option to license rights to the first two targets in Greater China, Hong Kong, Macau and Taiwan following the completion of phase 1 studies.

Silence would retain exclusive rights for the two targets in all other territories.

It would also be responsible for all activities up to option exercise, and would retain responsibility for development outside the China region after first phase studies.

Hansoh would also have the exclusive option to license global rights to a third target at the point of investigational new drug (IND) filing.

Silence said Hansoh would be responsible for all development activities post option exercise for the third target.

Hansoh was set to make a $16m upfront payment, with Silence eligible to receive up to $1.3bn in additional development, regulatory and commercial milestones.

Silence would also receive royalties tiered from low double-digit to mid-teens on Hansoh net product sales.

“We believe Hansoh's extensive clinical development and commercialization experience in China make them an ideal partner,” said president and chief executive officer Mark Rothera.

“This collaboration is a good example of our hybrid model in action, balancing proprietary and partnered programs to maximize the substantial opportunity of our mRNAi GOLD platform for targeting disease associated genes in the liver.

“The Hansoh partnership enables us to move two new proprietary programs forward subsidized by non-dilutive capital while also gaining access to the second largest pharmaceutical market globally.”

At 1201 BST, shares in Silence Therapeutics were up 2.94% at 542.5p.