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Pharmaceutical group Silence Therapeutics (SLN:AIM) has entered into a collaboration with AstraZeneca (AZN) to focus on the development of a range of novel approaches for the delivery of siRNA molecules. siRNA stands for small interfering ribonucleic acid (RNA is similar to DNA) and these molecules play several important roles in biology.

The deal, for which no financial details were disclosed, is independent of the two companies’ three-year collaboration signed last July which aims to develop novel siRNA therapeutics against specific targets exclusive to AstraZeneca.

Through the new deal, the two companies will work together to produce new and improved approaches for the delivery of siRNA molecules. The successful delivery of these molecules to different tissue sites is critical to realise the exciting potential of siRNA to treat a range of diseases.

Both groups will be able to commercialise the delivery systems they develop together. Silence Therapeutics will also retain the right to sign further similar deals to take advantage of

its current AtuPLEX delivery technology

as well as any improvements to

the technology that it generates independently or through this collaboration.

Chief executive, Jeff Vick, says the deal highlights the progress the group has made with its AtuPLEX platform and ‘reflects the strong working relationship we have developed with AstraZeneca and the progress of our ongoing collaboration in the development of AtuRNAi molecules against a number of their targets.’

However, the shares in Silence Therapeutics did not reflect the positive news, sliding 7% to 44.2p.

Shares says: The potential is there but the shares have taken a battering in the past six months. Avoid for now. AVOID