20th Nov 2007 07:00
Silence Therapeutics Appoints Financial Adviser and Broker and Nominated Adviser
London, UK, 20th November 2007 - Silence Therapeutics plc ("the Company"), a leading European RNAi therapeutics company, announces the appointment of Lazard as its financial adviser and Nomura Code Securities Limited ("Nomura Code") as its broker and nominated adviser with immediate effect.
Silence Therapeutics has appointed these new advisers to support the Companythrough its next stage of development and growth, which is being driven by itsrecently appointed Chief Executive Officer, Jeff Vick, who joined in July 2007.Silence Therapeutics' goal to is to become a global leader in RNAi therapeuticsbased on its novel, stabilised, blunt-ended AtuRNAi‚® molecules and its AtuPlex‚®, drug delivery technology. Silence Therapeutics' growth strategy is centredon further RNAi collaborations, which gives its partners access to theCompany's unique technology on a target specific basis, progressing itsinternal pipeline of AtuRNAi therapeutics and expanding its patent estatearound its unique RNAi and drug delivery technologies. In this regard, SilenceTherapeutics is continuing to work with the US Patent Office on its coreAtuRNAi patent application and remains confident that it will be allowed in duecourse. The Company's core AtuRNAi patent was granted in Europe earlier thisyear.Jeffery S. Vick, Chief Executive Officer of Silence Therapeutics, commented:"We are pleased to announce the appointments of our new financial adviser andour new broker and nominated adviser to provide a world-class level of supportas we execute our ambitious corporate strategy. As our recent deal withAstraZeneca illustrates, Silence Therapeutics operates in one of the mostexciting areas of the pharmaceutical industry. With the advice and support ofLazard and Nomura Code, we will build on the significant progress we have madeover the last year to become one of the global leaders in the RNAi space. "
- Ends - Enquiries:
For further information, please contact the following:
Silence Therapeutics plc Citigate Dewe Rogerson +44(0)20 7307 1620 +44(0)20 7638 9571 Jeff Vick, CEO David Dible Melvyn Davies, FD Yvonne Alexander
Nomura Code Securities Limited
+44(0)20 7776 1200 Chris Collins Gerard Harper Notes to Editors
Silence Therapeutics plc (www.silence-therapeutics.com)
Silence Therapeutics plc is a leading RNAi company. RNA interference (RNAi) can selectively 'silence' genes linked to the onset of disease.
Silence Therapeutics has developed novel, proprietary short interfering RNA('siRNA') molecules, AtuRNAi, which provide a number of advantages overconventional siRNA molecules as they show increased stability against nucleasedegradation. In addition, the Company has developed a proprietary systemicdelivery system, AtuPLEX. This enables the delivery of siRNA molecules totargeted diseased tissues and cells, whilst increasing their bioavailabilityand intracellular uptake.In July 2007, Silence Therapeutics formed a research and developmentcollaboration with AstraZeneca to develop AtuRNAi against five specific targetsincluding those in respiratory indications. The Company's AtuRNAi technologyalso has been sublicensed to Pfizer through Quark's license to Pfizer of thecompound RTP-801i-14 for the treatment of Age-related Macular Degeneration(AMD) and a number of other indications. This compound entered the clinic inearly 2007. Silence Therapeutics also has licensed to Quark rights to theAtuRNAi structure for its proprietary compound AKIi-5. This compound is in aPhase I human clinical study for treatment of acute kidney injury. In addition,Silence Therapeutics expects to begin the clinical development of its ownproprietary AtuRNAi therapeutic molecules for systemic cancer indications in2008.
Silence Therapeutics is based in London, UK, and Berlin, Germany, and is listed on AIM.
About RNAiRNA interference (RNAi), a Nobel Prize winning technology, is one of the mostexciting areas of drug discovery today. It represents a completely new approachto selectively 'silence' or inactivate disease relevant genes and as such ithas the potential to create a new class of therapeutic products. RNAi couldtherefore offer a therapeutic approach to a broad range of diseases (cancer,infectious diseases, inherited diseases), many of which have been regarded asincurable and are not addressed by current therapeutics, therefore providing alarge market opportunity.Forward-Looking Statements
This press release includes forward-looking statements that are subject to risks, uncertainties and other factors. These risks and uncertainties could cause actual results to differ materially from those referred to in the forward-looking statements. All forward--looking statements are based on information currently available to Silence Therapeutics and Silence Therapeutics assumes no obligation to update any such forward-looking statements.
SILENCE THERAPEUTICS PLCRelated Shares:
SLN.L