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SILENCE THERAPEUTICS AND MODELS COMPLETE COOPERATION IN RNAI DEVELOPMENT AND TRADING SUPPORTED EVENTS

SILENCE THERAPEUTICS AND MODELS FOCUS ON COOPERATION FOR DEVELOPMENT OF RNAI THERAPEUTICS AND TRADING IN THE FUTURE

. preclinical resource concentrating on a selected protein on the complement pathway, C3 (SLN500), and an alternative choice to up to two further fees with totally different protein targets

– Silence to receive a $ 20 million prepayment, potential near-term and long-term payments for term improvement and business milestones, and revenue royalties

– Silence organizes a webinar as we speak at 13.00. BST1 to debate the announcement

LONDON and STAINES-UPON-THAMES, July 18, 2019 / PRNewswire / – Mallinckrodt plc (NYSE: MNK), a worldwide biopharmaceutical firm and Silence Therapeutics plc (LON: SLN), is a pacesetter in the detection, improvement and delivery of latest therapeutic RNA2 issues (RNAi) for the remedy of great illnesses, in the present day announced that corporations can develop and commercialize RNAi medicine designed to stop or "silently" complement cascade, a gaggle of proteins involved within the immune system and play a task within the improvement of inflammation. These proteins are recognized to contribute to pathogenesis of many illnesses, together with autoimmune illnesses.

In line with the terms of the agreement, Mallinckrodt may have exclusive worldwide license for Silence-C33, SLN500, which has a license for as much as two licenses. complementary subjects in the Silence preclinical complement-driven RNAi improvement program. Silence is answerable for the pre-clinical activities and the implementation of every asset improvement program until Step 1, after which Mallinckrodt takes medical improvement and is chargeable for international commercialization.

Mallinckrodt has agreed to provide Silence a prepayment of $ 20 million. Silence can also be entitled to receive up to $ 10 million for research intervals for SLN500 and for each non-compulsory property in addition to financing for Part 1 medical improvement, including GMP4 manufacturing. Silence funds all other preclinical actions. Collaboration gives potential further prices for medical and regulatory errors as much as $ 100 million for SLN500 and business milestones as much as $ 563 million for SLN500. If Mallinckrodt selects a license for one or two further belongings, Silence might receive as much as $ 703 million for comparable medical, regulatory, and business milestone funds per property. Silence would also get a tiered, low-double-digit high work on royalties from SLN500's turnover and every optionally available property.

”We’re very excited that the numerous potential provided by Silence's RNAi know-how responds to the wants of unnecessary patients in various critical and important circumstances, and we look ahead to working with them to develop complementary targets into new therapeutic choices,” stated Steven Romano, MD , Scientific Director and Government Vice President of Mallinckrodt.

“This license offers Mallinckrodt the opportunity to expand early development opportunities and the therapeutic application of RNA to address a number of rare diseases and conditions of immune regulation,” adds Ulrich H. von Andrian, MD, Edward Mallinckrodt of Immunopathology, Microbiology and Immunobiology Professor, Harvard Medical Faculty and Mallinckrodt Pharmaceutical Scientific Advisory Committee

“This collaboration combines Silence Therapeutics' knowledge and world-class R&D in RNAi with Mallinckrodt's expertise and resources as a global biopharmaceutical company with years of experience in solving complex challenges,” says David Horn Solomon, CEO of Silence Therapeutics. “The increasing number of clinical conditions and pathologies involving the complication system has attracted considerable interest in developing therapeutic alternatives to prevent complement activation, which is very promising in the treatment of multiple diseases. We look forward to working with Mallinckrodt to enhance our capabilities through RNAi treatments that have the potential to change the lives of patients. ”

Businesses work together to develop and commercialize the RNAi therapeutic objective. and set up a joint steering committee to guide the product improvement program. The patented know-how of Silence is a highly particular and modular platform designed to stop or "silently" detect genes that cause illness. Know-how is acceptable to target any number of genes; Nevertheless, the co-operation focuses on the complementary cascade associated with a number of autoimmune illnesses.

Silence Call with Buyers
David Horn Solomon, Managing Director of Dr. Silence Therapeutics, organizes a convention call with a reside presentation for analysts and buyers immediately at 1.00 pm BST (8am EDT). Link to stay broadcast: https://edge.media-server.com/mmc/p/d4noa4jd . Dial-in details: Participant's UK choice: +44 (zero) 2071 928000; participant; US Dial-in: +1 631 510 7495 Conference ID: 1576453. The presentation accompanying the call may be downloaded from https://www.silence-therapeutics.com/investors/results-reports-presentations

SILENCE
Silence Therapeutics develops a new era of medicine by using the physique's pure RNA interference mechanism or RNAi in its cells. Its personal know-how can selectively block any gene within the genome, particularly by suppressing the production of pathogenic proteins. Using its enabling transport methods, it has reached an additional degree of specificity by offering its therapeutic RNA molecules solely to focus on cells. Silence's proprietary RNA chemical compounds and supply methods are designed to improve molecular stability and improve supply to target cells, offering an effective modular method that is properly suited to combat life-threatening illnesses. Silence Therapeutics continues to be targeted and has determined to answer the creation of shareholder worth as well as business progress and improvement. Along with its natural plans, Silence Therapeutics will continue to guage a variety of options, believing that it will improve the company's future progress prospects and shareholder value, which can embrace equity funds and other strategic licensing and collaboration opportunities. For extra info, go to https://www.silence-therapeutics.com/

ABOUT MALLINCKROD
Mallinckrodt is a worldwide company consisting of various wholly-owned subsidiaries that develop, manufacture and market medical specialties merchandise and treatments. Specialty Brands reporting phase focuses on autoimmune and rare illnesses in special areas corresponding to neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and remedy of crucial neonatal respiratory therapy; analgesics and digestive merchandise. The Specialty Generics reportable phase consists of specialty medicine and lively medicine. For extra details about Mallinckrodt, go to www.mallinckrodt.com .

Mallinckrodt makes use of its web site to distribute essential enterprise info akin to press releases, investor shows, and different financial info. It also uses its website to hurry up public access to important enterprise info that’s essential to the corporate prematurely or to distribute a press launch or archive to the US Securities and Markets Authority (SEC), which reveals the same info. That’s the reason buyers ought to take a look at the website for investor relations on essential and up-to-date info. Website guests can also register to obtain automated emails and different notifications that notify them when new info is on the market on the Investor Relations page of the website.

Warning Statements Associated to Future Statements
Mallinckrodt
] This publication incorporates forward-looking statements on Mallinckrodt's cooperation with silence, together with expectations of future research and improvement plans, potential milestone funds and business preparations, and potential influence on the patient. The statements are based mostly on assumptions about a lot of essential elements, together with the following, which can result in a big difference in precise outcomes from the results of future opinions: analysis and improvement uncertainties, together with medical analysis results; compliance with regulatory and other requirements; regulators and different state authorities; modifications in legal guidelines and laws; issues with product high quality, manufacturing or supply or affected person security; and other dangers identified and described in additional element in Mallinckrodt's latest Annual Report Type 10 -Okay "Risk Factors" and other SEC info, all out there on its website. The forward-looking statements introduced right here will only converse from the day Mallinckrodt shouldn’t be obliged to update or revise forward-looking statements, whether for brand spanking new info, future events or events, or otherwise until required

Silence
The knowledge contained on this notice think about that Silence Therapeutics plc constitutes insider info in accordance with Regulation (EU) No 596/2014 on Market Abuse. Publication of this announcement by means of the Regulatory Info Service is held with this public info

CONTACT

MALLINCKRODT
Investor Relations
Daniel J. Speciale, CPA
Government Vice President, Investor Relations and IRO
314-654-3638
daniel .speciale @ mnk.com

Media
Daniel Yunger
Kekst CNC
Kekst CNC
521-4879
mallinckrodt@kekstcnc.com

] SILENCE THERAPEUTICS
Dr. David Horn Solomon, Managing Director
. Iain Ross, Non-Government Chairman
+44 (zero) 20 3457 6900

Peel Hunt / LLP (designated adviser and dealer)
James Steel / Oliver Jackson
+44 (zero) 20 7418 8900 [19659005] European IR
Strategic Communication by Consilium
Mary-Jane Elliott / Chris Welsh / Angela Gary
silencetherapeutics@consilium-comms.com
+44 (0) 20 3709 5700

US IR
] Westwicke Partners
Peter Vozzo
Peter.vozzo@westwicke.com
442-213-0505

Mallinckrodt, the M-mark and the Mallinckrodt Prescription drugs emblem are logos of Mallinckrodt. Other manufacturers are logos of Mallinckrodt or their respective house owners. © 2019 Mallinckrodt. 7/19


1 British Summer time Time

2 Ribonucleic acid

three The C3 protein is a part of a complement system. There are nine main complement proteins labeled C1 to C9. https://medlineplus.gov/ency/article/003539.htm Entry on June 27, 2019.

4 Good Manufacturing Practices

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