The public limited company Mallinckrodt creates, manufactures, markets and distributes pharmaceutical products and therapies for branded and generic specialty products. The Company focuses on multiple therapeutic fields, such as specialty fields of the autoimmune and rare disease, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and respiratory critical neonatal care.
The Specialty Brands segment manufactures and markets pharmaceutical branded products and therapies. The Specialty Generics segment manufactures and markets specialty generic pharmaceutical and active pharmaceutical ingredient (API) composed of biologics, medicinal opioids, synthetic controlled substances, acetaminophen, and other active ingredients. Its product portfolio includes Acthar, Inomax, Ofirme
In just two months, Silence Therapeutics PLC (LON:SLN) struck the first milestone in a deal with a US drug business, causing a study fee of US$2 million.
Shares in Silence were down 4.1% at 188.00 pence in London in afternoon trading
As part of prospective multi-million dollar cooperation unveiled in July, the UK expert in RNA therapy has already obtained US$ 20million in advance from Mallinckrodt Pharmaceuticals.
After Silence finished pre-clinical research on the SLN500 program creating drugs to inhibit or ‘silence’ the complement cascade, the recent money amount was handed over.
This is a group of proteins engaged in the immune system that plays a part in inflammation growth.
In regulatory and clinical payments, the AIM-listed drug developer could obtain up to US$10mln of study milestones and another US$100mln. Business payments could add up to US$503mln much further down the track.
“Our partnership with Mallinckrodt has been both interesting and successful, and the triggering of this first study milestone highlights the fast advancement that has been made through the cooperation to date,” said David Horn Solomon, Chief Executive.
“We stay committed to advancing SLN500 towards clinical development and look forward to further milestones as we develop this and possibly other innovative resources that target the complement pathway quickly.”