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Here is new poster of Atu111 (siRNA against Ang2) in lung sepsis which silence are developing. It looks promising. http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CCIQFjAA&url=http%3A%2F%2Fsilence-therapeutics.com%2Fwp-content%2Fuploads%2F2011%2F12%2FPoster-GRC-Ang2-siRNA.pdf&ei=t_vXU727GOvNygOu24HoBA&usg=AFQjCNFZ8c_ORb7-cCCOl-SIk6fgCaWK6Q&sig2=YEd0R23TZAmB1Hr9pXGl2w&bvm=bv.71954034,d.bGQ&cad=rja

World Transplant Congress 2014 Abstract for QPI-1002 from licence Quark pharma (which Silence ther. gets royalties from) looks to be positive for phase 2 according to the congress abstract. Abstract# 2967. http://onlinelibrary.wiley.com/doi/10.1111/ajt.12880/pdf Royalty and milestone deal details are not announced. It could be as high a £4M milestone upon entering phase 3. If the agreement is similar to Quarks other licensed siRNA PF-655 with Silence ther.

Here is a article discussing PF-655 from Quark pharma in phase II (diabetic macular edema) expected to be announced in 1-2months time. If it is successful, Silence therapeutics gets a £4M milestone payment (plus higher milestone payments at phase III, and sales royalties). I think it's second attempt at a higher dose (3mg) may be successful. http://www.fool.com/investing/general/2014/03/19/why-pfizer-investors-should-watch-quark-this-summe.aspx

Quark pharma successfully complete phase II trial (delayed graft function using AtuRNAi-enabled QPI-1002. Which means royalty payments for silence therapeutics (AtuRNAi developed and licenced by silence) at some point. http://www.marketwatch.com/story/quark-announces-completion-of-phase-ii-trial-evaluating-qpi-1002-for-prevention-of-delayed-graft-function-in-kidney-transplant-patients-2014-07-01

Interesting piece on silence therapeutics IP on RNAi trigger mechanisms http://rnaitherapeutics.blogspot.fi/2014/07/rnai-trigger-history-revisited-as.html

"The Options were granted at market price on the date of their respective grants, but with a dividend credit mechanism which adjusted the Options' exercise prices relative to all dividends declared by GVC from the date of the grants up until exercise. The Options' average exercise price is therefore approximately £1.89 per share. " For very little work/risk Sarossa plc have now banked a cool £1.49M worth of shares :) http://www.investegate.co.uk/gvc-holdings-plc--gvc-/rns/exercise-of-share-options/201406260700065560K/

Hi Rob, I agree SARS was not really a optimal choice, especially considering biotech is a investment focus area of the company. Maybe the company are not aware of it so it would be good for you to email them it. What did you think of PHC preliminary results. I was very disappointed that even when the one of restructuring charge (2,098) was excluded there was such a large loss (4848). Still if they land one big repeat order for Harpin and Myconate from a giant US agrotech they would be in break even zone next year. However, I think they need to cut more admin and sales and marketing costs.

Hi Rob, What do you not like about the ticker? I think most people have forgotten about the SARS virus outbreak, if that is what you mean.

You could always try the SRC chairman's ORA capital email address michael@oracp.com. Do you think the transfer of shares for SRC share holders to SARS shares will be automatic for CREST accounts?

Hi Rob229, this was the first holding that Antisoma took. They have not stated when in 2012 it was (I would guess in the middle of 2012 at around 128p). CTH is now 240p with a 2.91% div yield. They went in before CTH purchased the freeholds property they use (as they were renting before). To quote CTH "The rent saving in 2014 will be up to £4.4m, compared with interest payments associated with the acquisition of the properties of £1.6m. The rent saving is expected to increase in future years as the previous rental terms were subject to increases based on inflation." This obviously improved profits and has led to a nice CTH share price increase. It is the only Sarossa holding paying a dividend (the GVC holdings are options). So it helps cover the small recurring salary costs for Sarossa.

Hi Rob229, I think the 3% holding is Caretech (CTH). Griffiths is even on the board.

Hurray, some share buyback has begun. Hopefully they are only using profits for the 22.8M shares.

Hi Rob & jollyspeculator, thanks for pointing out the pref. share adjustment to price/TNW ratio. I am only a amateur investor and I missed this. It changes the discount to a small premium. However, after taking into account the recent SLN price improvement SRC it is probably fairly valued now. I have high hopes for the turn around plan in PHC and SLN. In addition, I think a profit has been made in the CTH investment (I would guess they paid somewhere between 105p-129p at the time for the 1M investment). Which they have not yet announced when or what price they paid for it. I hope they soon get on with selling one of the investments and use as promised the profit to buy back and cancel some shares in SRC. Has anyone noticed the major loss Mr Griffiths took when he dissolved ORA capital in October and put the shares into his name (29.37% to 23.99%). He sold 5.38% at that point. He took his position in multiple buys in antisoma between feb 2011-Nov 2011 (2.33p - 1.833p). The SRC share price average in October was 1.4p.

jollyspeculator, they are starting a expensive R&D expansion for there 2nd generation product and getting new lab. Spending precious cash reserves!

"parties deemed to be acting in concert with ORA will hold between 25.83% and 29.95%" I am still wondering if Antisoma did buy into Ceres power at the same time as ORA capital did. If they did join wily Richard Griffiths in his 30% stake (1.65M) at 1p a share, a big profit has been made. As Ceres power shares are now 8.7p or (14.355M). I can not wait to see the annual report, when they should show what they have bought.

Unfortunately, British Empire Sec & Gen Tst PLC are referring to ASM international (ASM ticker in holland). Not antisoma. http://www.google.co.uk/finance?q=AMS%3AASM&ei=1ecMUfDvFIiOwAP86gE

No dividend with antisoma. They plan on using money for share buy back to get the price up a lot. Once the share price has risen considerably will they swap to a dividend. Which I am ok with as it is a long term investment for me and dividend distrubution has a lot of costs associated with it.

After analysis of all the AIM listed carehome providers. I have worked out the 1.04M investment in the carehome was the AIM listed "CareTech Holdings (LON:CTH)" RIchard griffiths (ORA) is on the board (10.9% holding). CareTech Holdings has 4,15% dividend yield and 12.3 EPS for 2012.

Antisoma are buying £4M of shares in GVC holdings (gambling company, 9% owned by Richard Griffiths). So that GVC with William hill (Australia) can jointly buy out sportsbet.

I like the ORA guys (Bretherton & Griffiths are from evolution), they know how to run low cost companies to make money. They restructure to make value in novel patent protected companies that are poorly run (usually because they spend to much money). As investment companies they can use leverage then grow fast. Antisoma is valued less than the cash balance and I can see them easily doubling the penny share status. They just need to be careful not to go into anything that exposed to heavily to Europe. They seem to be aware of the issues and are being cautious. It to me is a nice medium/long term investment.