UK-based Silence Therapeutics plc (NASDAQ: SLN) has announced the receipt of a $4 million milestone payment from China’s Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) as part of their ongoing collaboration. The specific details of the milestones achieved have not been disclosed, marking a confidential advancement in their joint efforts.
Background on the Collaboration and Previous Milestones
In October 2021, Hansoh signed an agreement with Silence to co-develop short interfering RNAs (siRNAs) targeting three different disease targets using Silence’s proprietary mRNAi GOLD platform. This strategic partnership initiated with Hansoh paying a $16 million upfront fee and committing to up to $1.3 billion in development, regulatory, and commercial milestones. A first milestone payment of $2 million was achieved in April 2022, and the recent $4 million payment signifies the achievement of the second and third milestones in the collaboration.
Implications for Silence Therapeutics and Hansoh Pharmaceutical
The receipt of milestone payments is a testament to the progress and success of the collaboration between Silence Therapeutics and Hansoh Pharmaceutical. It underscores the potential of their joint efforts in the development of siRNA therapies and reflects the significant investment and commitment from both parties to achieve these scientific and commercial goals.-Fineline Info & Tech
