Silence Therapeutics has announced collaboration with Hansoh Pharmaceutical to develop new therapeutics using Silence’s mRNAi GOLD platform.
As part of the collaboration, the companies will develop novel short interfering ribonucleic acid (siRNA) therapeutics for three undisclosed targets.
Under the deal, Hansoh will gain an exclusive option to license rights to the first two resultant therapeutics in Greater China, Macau, Hong Kong and Taiwan while Silence will retain the rights in all other territories after completion of Phase I trials.
Additionally, the company will have the exclusive option to license global rights to the third target therapy at the point of investigational new drug (IND) filing and will also take responsibility for all development activities post-option exercise for the third target.
Silence will be responsible for all the activities up to option exercise, as well as the development outside the China region post-Phase I studies.
Silence CEO and president Mark Rothera said: “We believe Hansoh’s extensive clinical development and commercialization experience in China make them an ideal partner.
“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.”
As per the terms of the deal, Silence will receive an upfront payment of $16m and will also be eligible to receive up to $1.3bn in development, regulatory and commercial milestones.
Furthermore, the company will also receive tiered royalties on Hansoh net product sales.