Investment portfolio update3 Oct 2013 09:49
An overview of the activities of the portfolio businesses in which Antisoma has a holding of over 3 per cent. is given below:
Silence Therapeutics Plc (Silence), which is AIM listed, is a global leader in the discovery, development and delivery of novel RNAi therapeutics for the treatment of serious diseases. The core technology of Silence is its proprietary form of short interfering RNAmolecule, known as AtuRNAi, that enables the development of novel molecular entities that "silence" or inactivate the genes expressed in some diseases.Additionally, the Company has developed technology that preferentially delivers AtuRNAi to the vascular endothelium (AtuPLEX), the lung endothelium (DACC) and the liver (DBTC). ATU027 is the company's leading Oncology product and its phase 1b/2a combination trial into pancreatic cancer commenced in April 2013 with the dosing of cancer patients. The trial will test Silence's Atu027 anti-metastatic ability to eliminate or decrease metastatic spread of the cancer, in combination with Gemcitabine, the leading anti-tumour drug. In April 2013, the company also raised approximately £19 million through a share placing that significantly strengthened its balance sheet and will provide cash to enable the company to both progress its Atu027 clinical asset and to broaden its preclinical pipeline.Antisoma held 4.3 per cent. of the issued share capital of Silence at 30 June 2013.
Plant Health Care Plc (PHC) which is AIM listed, is a leading provider of novel patent protected biological products to the global agriculture markets. PHC's products increase crop yields by enhancing natural processes within the plant. During the current year, PHC made a number of significant beneficial changes to its strategy and management team and also announced in July 2013, that it had agreed with Monsanto, to discontinue an agreement under which Monsanto had certain exclusive rights to develop and sell Harpin. PHC has, therefore, now resumed direct control of the Harpin product and has regained the flexibility to partner with others to develop and sell this into all crop markets on a global basis. PHC's long-term vision is to establish itself as a highly profitable technology licensing business, embedded in the global agrochemical industry, earning most of its income as royalties and licensing fees. The company has already formed partnerships with several of the leading agrochemical companies including Direct Enterprises Inc. and Arysta Life Science. PHC continues to have no debt and on 15 April 2013 it raised £13.4m ($20.3m) under a share subscription to fund the expansion of its R&D and commercialisation programmes. Antisoma's holding in PHC at 30 June 2013 was 4.8 per cent.
In addition to the above, Antisoma has a holding of below 3 per cent. in a profitable AIM listed care sector support services business with a solid dividend yield and a good growth record.
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