29th Jul 2019 11:43
LONDON (Alliance News) - Silence Therapeutics PLC said Monday that Steven Romano has joined as non-executive director, as part of the company's collaboration and equity investment by Mallinckrodt PLC.
New York-listed Mallinckrodt has invested USD5 million into Silence Therapeutics as part of a collaboration worth potentially hundreds of millions of US dollars. The deal would give biopharmaceutical firm Mallinckrodt a 6.5% stake in the drug research and development company, after taking 5.1 million new shares at a price of 79 pence each.
Under the collaboration, the companies plan to develop and commercialise RNA interference drug targets designed to inhibit a group of proteins which play a role in inflammation.
Romano currently serves as executive vice president and chief scientific officer at Mallinckrodt Pharmaceuticals. Previously, he had spent 16 years at Pfizer Inc, where he held a series of senior roles.
"With his executive responsibility for research and development, medical affairs and regulatory affairs functions at Mallinckrodt, Steve brings wealth of experience that is highly relevant to the current stages of development of Silence's assets," Silence Chief Executive Officer David Horn Solomon said.
Shares in Silence Therapeutics were up 3.4% higher at 187.60 pence each in London on Monday morning.
Related Shares:
SLN.L