Silence out-licenses mRNA GOLD platform in China

Shares of UK-based Silence Therapeutics (AIM: SLN and Nasdaq: SLN) were up as much as 6.5% at 556.50 pence this morning, after it revealed the signing of a potential $1.3 billion accord.

Silence announced a collaboration with Hansoh Pharmaceutical Group (SEHK: 3692), one of China’s largest drug developers, to develop siRNAs for three undisclosed targets leveraging Silence’s proprietary mRNAi GOLD platform.

Under the terms of the agreement, Hansoh will 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 I studies. Silence will retain exclusive rights for those two targets in all other territories. Silence will be responsible for all activities up to option exercise and will retain responsibility for development outside the China region post Phase I studies.