Silence Therapeutics announced a business update for the year ending 31 December 2019. The company entered into a Technology Evaluation Agreement with Takeda to generate siRNA molecules against a specific novel, undisclosed target discovered by Takeda. The Board has taken the decision to establish a US subsidiary during 2020.
SLN360 is a wholly owned pre-clinical candidate for the potential treatment of cardiovascular disease. The company has made significant progress with IND-enabling studies, and continues to expect to file an IND/CTA in H2 2020.
SLN500 is developed in partnership with Mallinckrodt for the treatment of complement-mediated diseases (targeting C3). It expects to nominate a lead candidate from the programme in H1 2020 and to file an IND/CTA in 2021.
The company reported an unaudited cash balance at 31 December 2019 of £33.5m.
Iain Ross, Silence Therapeutics’ Executive Chairman, said: “In 2020, Silence will look to continue leveraging its expertise to advance its pipeline of new medicines through the clinic to show safety, tolerability and efficacy for patients. In addition, we will continue to explore multiple opportunities to create shareholder value through significant partnerships that leverage the Company’s proprietary GalNAc-siRNA platform.”