Wave Life Sciences (NASDAQ: WVE) announced that GSK has selected a siRNA candidate for a hepatology indication to transition into GSK's development pipeline, triggering a $12 million milestone payment to Wave, according to a company press release.

The selected candidate was developed using Wave's GalNAc-siRNA technology under a research collaboration between the two companies. Wave said three additional collaboration programs are continuing to advance toward potential candidate selection.

Paul Bolno, MD, MBA, commented on the selection: "The advancement of this development candidate by GSK reflects the recognition of Wave's differentiated technology, including our best-in-class SpiNA design siRNA."

Under the terms of the collaboration, Wave is eligible to receive between $330 million and $375 million in development, launch, and commercial milestones for each collaboration program, in addition to tiered royalties on net sales.