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Silence Therapeutics Announces Subscription and Open Offer to Raise up to £5.7 Million
Date:7/11/2012

655 in patients with diabetic macular oedema. The trial is designed to compare the efficacy of PF-'655 when used alone or in combination with Lucentis (Novartis/Roche) against Lucentis in patients with diabetic macular oedema. The trial is expected to complete in the middle of 2014. In May 2012, Quark also announced it had amended its agreement with Pfizer to enable it to initiate a 108 patient Phase IIa trial of PF-'655 in patients with open-angle glaucoma (the most common type of glaucoma). Quark and Pfizer have also conducted a Phase II trial of PF-'655 in age-related macular degeneration, the leading cause of blindness in the elderly. In addition to royalties on product sales, milestones from these programmes could now total up to $120 million of which $6 million has been received to date. A further milestone of almost $4 million is due to Silence on initiation of a Phase III trial.

In addition to PF-'655, Quark is also developing QPI-1002 for the prevention of delayed graft function in kidney transplant patients and for the prevention of acute kidney injury. QPI-1002 is based on Silence AtuRNAi technology. In August 2010, Quark signed an option and licence agreement for QPI-1002 with Novartis for an upfront payment of $10 million. Quark is currently conducting a 366 patient Phase II trial of QPI-1002 in prevention of delayed graft function in kidney transplant patients. The trial is due to be completed before the end of 2012. Based on the results of this study, Novartis may decide to exercise its option to license QPI-1002. Quark also plans to initiate a Phase II trial of QPI-1002 in acute kidney injury.  In addition to royalties on product sales, milestones to Silence from these programmes could total up to $100 million.

During the last 12 months, Silence has signed a number of delivery collaborations to evaluate the Company's three RNAi delivery systems including agreements with InteRNA Technologies BV, miRagen Inc. and Mirna Inc. Discussio
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SOURCE Silence Therapeutics Plc
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