Wave Life Sciences Ltd. provided an update on its best-in-class small interfering RNA (siRNA) and RNA editing platform capabilities. As part of Wave's ongoing collaboration with GSK, GSK has selected its first two programs to advance to development candidates following achievement of target validation. These programs utilize Wave's next generation GalNAc-siRNA format and are in hepatology.

GSK will provide an aggregate initiation payment of $12 million to Wave for these two oligonucleotide programs. Under the agreement, GSK can advance up to eight programs leveraging Wave's PRISM?? platform and multiple RNA-targeting modalities (RNA editing, splicing, siRNA, and antisense) with target validation work ongoing across multiple therapy areas. Under the terms of the agreement with GSK, Wave leads research for GSK Collaboration Programs up to investigational new drug (IND)-enabling studies.

GSK Collaboration Programs then transfer to GSK for IND-enabling studies, clinical development, and commercialization. In total, Wave is eligible for up to $3.3 billion in potential milestone payments, as well as tiered royalties on net sales, for GSK Collaboration Programs and WVE-006, for which GSK has an exclusive global license. Upcoming Congress Presentations: Wave will highlight its siRNA capability and its leadership in RNA editing at two upcoming congresses: The ASGCT 27th Annual Meeting on May 7-11, 2024, and TIDES USA on May 14-17, 2024.

Presentation details are as follows: ASGCT; Potent, Durable mRNA Knockdown in Extrahepatic Tissues Using siRNAs with Novel Phosphoryl Guanidine Backbone Variants (Wei Liu, PhD, Senior Scientist, Wave Life Sciences); Oral Abstract Session: Oligonucleotides That Support Targeted RNA Editing in the CNS of Non-Human Primates.