China’s Hansoh Pharma inks siRNA based deal for $1.3B

UK-based Silence Therapeutics and Hansoh Pharmaceutical Group in China have announced a collaboration to develop siRNAs (small interfering RNA) 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 1 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 1 studies. Hansoh will also have the exclusive option to license global rights to a third target at the point of IND filing. Hansoh will be responsible for all development activities post option exercise for the third target. Hansoh will make a $16 million upfront payment and Silence is eligible to receive up to $1.3 billion in additional development, regulatory and commercial milestones. Silence will also receive royalties tiered from low double-digit to midteens on Hansoh net product sales.