Good morning, everyone. Thank you for coming to the final day of the JP Morgan conference. Hopefully, you all found it very good to be back in person. I know we have. I'm Josh Bowers from the JP Morgan Healthcare Banking team in London, and it's my pleasure to introduce Craig Tooman, the President and CEO of Silence Therapeutics. Just a reminder, you can ask questions on the portal, and I'll read them out at the end. If not, you can also stick your hand up and we'll bring around a microphone so you can ask questions as well. Without further ado, I'll hand it over to Craig.
Thank you, Josh. Great to see everyone. Thanks to J.P. Morgan for having us today. I will start by showing you our safe harbor statement. We will actually be making forward-looking statements today and press releasing that, please make note of that. Silence is aptly named because we silence or block diseases through really our chemistry and our proprietary siRNA technology. You'll hear as a common theme throughout the presentation today that we are reversible, that really is a differentiating factor versus some of the technologies. We have a long history at Silence in siRNA going back to 1998, over two decades. Some of our early patent work, we do approach this with patents in mind, occurred in 2002.
In the 2005-2007 period, we really worked on more of the corporate work. AIM listing, for example, in London, the naming of the entity Silence Therapeutics, and it is a PLC. In the 2009-2015 period, we did work in LNPs. We were in that earlier technology in the lipid nanoparticles before really focusing in the time period 2016-2021 in what we call the mRNAi GOLD platform. That is really focused on GalNAc. The siRNA expertise that we're building there is where we're spending our time today. We have a very robust IP protection in place with over 10 technology patent families, that's really where we spend most of our time.
As you know, in this time period, we've also penned relationships with major pharmaceutical firms, including AstraZeneca, Mallinckrodt, and Hansoh, and we'll talk more about that. In the last couple of years, we have made a pretty decent shift toward U.S. We have delisted AIM, for example, and have solely listed on Nasdaq now. We did that in order to really get become better known with the U.S. funds in the fund environment, and we'll talk more about that. We have quite a few new U.S. investors that we're pleased to welcome. We also have, at the same time, we're gaining a lot of attention clinically. We have three programs in the clinic now. Two actually are from our proprietary pipeline and one actually that's partnered, a really nice growing pipeline.
We are a global company, 125 employees or so. Our scientific roots are in Berlin, as I mentioned. Those continue to be there. We have some great science that goes on in Berlin. We are a PLC, we have London headquarters in Hammersmith. We've opened a New Jersey office for a variety of corporate functions and also some of our medical and regulatory people. We're, at Silence, very focused on precision engineering. We like very much this very specific binding to the target. We do focus on the liver primarily, although we are looking at some extrahepatic things as well. We like this very much for the limiting of the potential of side effects. Broad utility in this platform.
We're targeting both rare diseases, and we'll talk about that, and very common genetic diseases at all as well. The Lp program in cardiovascular arena, people are well aware of, and we'll show that data again, but also the hematologic disorders in the rare space. It's a very durable technology, yet reversible. We like this if in the end, even though it's very durable, you decide not to continue with that, it's completely reversible and not permanent, not altering the gene. From the pipeline perspective, we'll talk about that. We have these internal programs that are advancing very nicely, but we also have 16 partnered programs with our partners. We're looking at it across the landscape.
In terms of the difference from gene silencing, gene therapy, and gene editing, just a couple of comments, and I've alluded to this notion that, we're not permanently altering the DNA, which we like very much, but also that, we require very few outpatient injections. We're not in large major medical procedures. This is a fairly simple treatment area. The specificity that we've seen with siRNA is definitely differentiating as well. What we do, we call it the toolbox. We look at the combination of the siRNA molecule, very targeted to the gene, as I mentioned, liver genes in particular. We've also developed chemical modification, to enhance really the stability and improve the activity. Again, we have two decades of experience, and we've spent a lot of time doing that.
We also have proprietary linkers that we have in-house, and that has really added to our intellectual property position. Targeting the ligands, and particularly in GalNAc, which many of you are well aware of. We like this area because it's very specific to the liver tissues and cells. The combination of all of these, we call it the toolbox for us. We're continually fine-tuning this and continually applying for intellectual property. We are trying to expand our hybrid model and our access with mRNA GOLD, extend its utilization. In the pipeline, as I mentioned, we do this in the hybrid model, which is essentially a 50/50 model, where we have our wholly owned programs. We really try to retain those programs that we like for ourselves.
With partners, and we'll talk about the partnerships, we expand our reach and our ability to look at programs that otherwise we wouldn't be able to do. With that, we collect non-dilutive funds. In this model, at this time period, we like very much that we have, you know, non-dilutive sources of income. That balances not only the sources of income, but also the risk for us from a portfolio approach. If you look historically, based on the data, the GalNAc conjugated RNA success of moving between phase I, phase II to phase III, it's 5 times better likelihood of success in this GalNAc arena than we've seen in the pharma industry average. Again, we're increasing our odds to move to the next stage successfully. Talking about our partnerships, 3 partnerships, 16 targets.
AstraZeneca is the largest of those and the broadest. Includes cardiovascular, renal, metabolic, and respiratory. That's a 10-target deal. We've also have a deal with Mallinckrodt, which is focused on the complement space. That's 3 targets. Mallinckrodt has exercised the option to all of those, all 3 of those complement targets. Most recently, we did a deal with Hansoh, large company in China, for 3 targets as well. They retained China for the first 2, and we have rights outside of China. The third target, Hansoh has global rights too. Again, up to, if all of these are achieved from milestones and royalty standpoint, $7.5 billion in non-dilutive funds. All of these are advancing nicely.
If you look at our pipeline, as I mentioned, we have this combination in the hybrid model with our proprietary programs, depicted on the top, SLN360, which is large cardiovascular market, Lp(a). We've announced fantastic phase I data. We'll talk more about that. SLN124, we now have ongoing in beta- thalassemia, and just recently, PV. You'll hear me talk more about that. That's targeting TMPRSS6. We have other multiple programs undisclosed within the company that are proprietary. We look at our projects with our partners, Hansoh, SLN501 that is targeting C3. That is in the clinic. That is our partner program with Mallinckrodt. The Mallinckrodt and AstraZeneca programs that I referred to. Both in the complement space and the others that are non-disclosed with AstraZeneca.
The pipeline is deep and rich with both our own programs that are now achieving clinical stage, and then those that are earlier stage with our partners. Let's talk just a little bit about our clinical programs. Again, mRNAi GOLD™ platform. This SLN360 is our lead clinical program targeting Lp(a). Our program for phase I, we highlighted 32 healthy volunteer study with high Lp(a). And an incredible reduction of up to 98% at our highest dose. The effects were long-lasting, persistent over a 5-month period of the study, and they continue, and very safe, well documented to be safe. SLN124, targeting TMPRSS6, 24 healthy volunteer study was accomplished. It actually increased hepcidin up to a 4-fold increase. And again, very safe and very durable. These early readouts look very, very good for us.
More specifically on SLN360, that's garnered a lot of attention in the cardiovascular arena. A very large population, depending on how you measure, that population, could be 10%-20% of the world's population, that exhibit, high Lp(a). With that is an association with, increased heart attack risk or CV risk in general, including stroke. Lp(a) levels are genetically determined. You're born with this. It's something that increasingly people wanna test. It is recognized now as a major untreated risk factor in CV disease. The really interesting thing about this is you really can't, modify, Lp(a) by diet or exercise. This is really, as I mentioned, it's genetic in nature. Large unmet medical need.
Here I show the incidence of heart attack, AS, aortic stenosis, heart failure, and stroke. Increased risk of 2 to 3 times, again, depending on how you measure this. In our studies, we've measured it in a variety of ways. Again, 10% to 20% of the world's population can be impacted. As a just a comparison to the statin market, we find it very interesting that if you look at the epidemiology of the US and the top 5 markets, in terms of the number of patients that could be impacted, it's very similar, almost identical. Of course, there is no treatment available today. As I mentioned, this is genetic. There's really only one way to handle that, and that is to treat it and treat it early.
What you'll find with the historical statin market, as you all know well, is there were multiple parties, big companies that had entered this, all selling multiple billion in revenue. Actually, the first of the statins was not necessarily the largest. We're very encouraged by the size of the market and the potential for us with this compound. Again, it is wholly owned. This asset is wholly owned by Silence. The growing awareness is clear, with Lp being recognized as a cardiovascular risk factor. If you look at the European Atherosclerosis Society put out a consensus statement saying Lp should be measured at least once in adults. Again, that speaks to the genetic nature of this. Canadian Cardiovascular Society did the same. You should test this at least once in a lifetime.
I think if you look at the U.S., AHA and ACC, you're seeing similar link to familial background and testing that should be done over a period of time. Large bodies and medical societies are taking note. Our phase I program, very well received. Just to highlight this real quickly. It's a global, randomized double-blind placebo-controlled trial. We are doing both a single and a multiple-dose study, and we've depicted that single dose. I'll show you that in a minute. 32 healthy volunteers at 4 doses. The multiple-dose arm continues, and that will read out again at 4 doses. This was the graph that we showed at ACC. It was in April. A really incredible efficacy, if you can see at day 60, a 98% reduction in Lp(a).
96%, however, at half of that dose. You don't need to go to the highest dose to get incredible and durable effect from this. If you look at day 150 per this trial, you still saw 70% reduction to 81% reduction in the 300 milligram and the 600 milligram, respectively. Durable and just incredible efficacy. This was shared, as I mentioned, as a late breaker at ACC in April. Dr. Steven Nissen actually presented that and was also simultaneously presented in JAMA. The combination of the publication and the presentation were very unique for a phase I program and really speaks to both the technology and the findings in that study. Very pleased that we have just kicked off the phase II.
You'll see that in press release today. Very happy to have patients already enrolled in that study. Approximately 160 participants in that trial, two dose levels that we'll test. Again, looking for reduction from baseline in that trial. Our hope for SLN360 is to complete the multiple dose data and have that presentable in the fourth quarter of this year and to fully enroll the phase II by the end of the year as well. We're gathering a lot of intelligence through those programs to inform our phase III. Just to highlight and switch to SLN124 for hematologic disorders. Briefly, we target TMPRSS6 with this program, which is modulating hepcidin. We call them the body's master iron regulator.
We have a group of preclinical publications across fronts and indications and uses, all very positive, and a proof of mechanism demonstrated in a healthy volunteer study as well. The organization's FDA and both US FDA and others, regulatory agencies, have been very, very supportive, I'll say, of these. Fast Track designation for PV. We've got Orphan Drug Designations for PV, beta -thal, and MDS, and Rare Pediatric Disease Designation for beta- thal. Again, a very supportive regulatory environment. Recently, we started, as I've mentioned just now, the PV study, has higher prevalence than some of the studies we've done before. We continue to work in the beta- thalassemia market. As you know, these are genetically based blood disorders.
We've had one readout on beta- thal, and we'll show you that, and continued multiple dose readout coming. Polycythemia, very excited about this opportunity. It is really looking at hematocrit and trying to regulate that at certain levels, and we feel very good about the ability to do that as we start this study. In terms of the proof of mechanism and healthy volunteer study, again, we've seen a fourfold change from SLN124 in terms of the hepcidin effect and reducing iron to 50% approximately. Again, durable. This was presented at ASH and gave us a real insight into the next realm of our studies. In terms of the adult thalassemia study, as I mentioned, both single dose and multiple dose studies, approximately 24 adults with NTD thalassemia.
3 doses we actively looked at. What you've seen is very safe, and I know many people are looking for the safety of these molecules. We've seen very safe output, no serious adverse events, no TEAEs leading to withdrawal, no DLTs, no dose-limiting toxicities. Longer term, in the MAD portion of this study, we'll be looking at hepcidin and hemoglobin, et cetera. We'll be looking at some of those in the 4Q of 2023. Very pleased so far. In terms of the PV trial, just initiated. That was a key goal for us last year and to get this up and running. We have started that imminently now and phase...
It's a 2-part phase I, which is open label dose-finding study, and phase II, which is randomized double-blind placebo-controlled, and approximately 65 participants if all cohorts are enrolled. That is the upside of that number. What we'll be looking for in the phase I, of course, is safety, as you would expect. Phase II, looking to reduce the number of phlebotomies with treatment. This is a large unmet medical need and really looking forward to this study. In terms of the financial highlights for the company, as I mentioned, we actually started trading on Nasdaq exclusively, so we report ADSs here. We're approximately a $550 million company today. Very clean balance sheet, no debt.
We have cash of approximately $113 million at the end of September. That leads us well into 2024, so next year. In summary, the company, we feel, is just very well poised with its wholly owned programs. SLN360, large indication cardiovascular arena. We just initiated phase II. Very excited about that. SLN124, again, our own wholly owned program. Hematological disorders and the PV study just open for enrollment now. Then we have the partner programs up to $7.5 billion in non-dilutive money over a period of time. As we move forward in the clinic, or as we move forward on those milestones, we do communicate those milestones on the non-dilutive pieces.
Technology platform we think is really great and continue to expand this and are very solid, we think financial position leading into this with a non-dilutive model in addition to, you know, the money we have currently. Again, in conclusion, we silence, we block the bad portions of the gene. We're very excited to be in this arena with this technology platform. Is increasingly recognized as a platform and acknowledged in all of our locations as a great place to work. Thank you very much.
We'll open the floor if there's any questions from the floor. Any questions? That's fine.
If we have no questions, my management team is here with me, and we'd love to take any questions you might have here or in the hall or subsequent, so leave us a business card. Thank you for the interest.