Edison Investment Research Limited
Edison Investment Research Limited: Edison issues update on Silence
Therapeutics (SLN)
25-March-2020 / 14:55 GMT/BST
London, UK, 25 March 2020
Edison issues update on Silence Therapeutics (SLN)
Silence Therapeutics announced on 25 March 2020 that it has signed a
collaboration agreement with AstraZeneca to develop novel drugs for
cardiovascular, renal, metabolic and respiratory diseases. The deal includes
an upfront of $60m, $20m in equity investment, and for each of the planned
targets $400m in milestones, and high single- to low double-digit royalties.
Additionally, the company announced that it would elevate SLN360 to the
status of lead asset and expects to file an IND later in 2020 and to have
interim results in mid-2021.
We have increased our valuation to GBP462m or 559p per basic share, from GBP345m
or 440p per basic share. This is driven by the addition of the AstraZeneca
deal metrics and its associated cash injections to our models (total GBP74m
value uplift), an increase in the valuation of SLN360 to GBP167m from GBP112m
and offset by the delay to SLN124 (GBP129m from GBP141m).
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For more information please contact Edison:
Nathaniel Calloway, +1 646 653 7036
healthcare@edisongroup.com
Learn more at www.edisongroup.com [5] and connect with Edison on:
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End of Announcement - EQS News Service
1007125 25-March-2020
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(END) Dow Jones Newswires
March 25, 2020 10:55 ET (14:55 GMT)
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