Mallinckrodt options two more targets under Silence collaboration

UK novel RNA therapeutics firm Silence Therapeutics (LSE: SLN) says Mallinckrodt (NYSE: MNK) has exercised the option, under the collaboration forged in July 2019, to obtain exclusive worldwide licenses for two additional complement-targeted RNAi assets from Silence.

Silence will receive a $2 million milestone payment on the initiation of work for each asset, the parties anticipate starting work on both programs in due course. Market reaction was mooted, with Silence’s shares up just 0.5% at 430 pence by mid-afternoon.

The collaboration between Silence and Mallinckrodt is aimed at the development and commercialization of RNA therapeutics designed to inhibit or 'silence' the complement cascade, a group of proteins that are involved in the immune system and that play a role in the development of inflammation. These proteins are known to contribute to the pathogenesis of many diseases, including autoimmune diseases.