LONDON, Dec. 21, 2010 /PRNewswire/ — Silence Therapeutics plc
(AIM: SLN) (“Silence” or the “Company”), a leading global
biotechnology company dedicated to the discovery, development and
delivery of targeted, systemic RNA interference (RNAi) therapeutics
for the treatment of serious diseases, today provides a year-end
update on trading and the offer-period.
Phil Haworth, CEO of Silence Therapeutics, comments: “2010
has been an exciting year for Silence Therapeutics. The Company is
delighted with the clinical progress it has made with Atu027 and
our Phase I trial continues on track. In addition, our
partner, Quark Pharmaceuticals, has made significant progress with
QPI-1002, both in advancing the product into Phase II trials and in
partnering it with Novartis. We are pleased to be announcing
a milestone payment from Quark today.”
Further to the announcement dated 6th September 2010, Silence
confirms that it remains in an offer period. The Company continues
to explore a variety of strategic opportunities.
Atu027 Phase I trial
During the course of 2010, excellent progress has been made with
the Company’s flagship Phase I trial of Atu027 in patients with
solid tumours. This trial remains on track and, to date, 18
patients have been treated. Trial completion is expected in the
second half of 2011.
Milestone from Quark
Silence is pleased to announce today that it has reached
agreement with Quark Pharmaceuticals Inc. (“Quark”) whereby Silence
is due to receive milestone payments of up to $1.5 million in
relation to the option agreement signed between Quark and Novartis
for QPI-1002. Silence anticipates that its share of future
milestone payments relating to Quark’s license agreement with
Novartis could reach $80 million.
- Based on Silence’s AtuRNAi technology, Quark is developing its
QPI-1002 for the prevention of acute kidney i