1 Mar 2010 07:00
Silence Therapeutics plc Announces Changes to Management and the Board of Directors
Jerry Randall Appointed New Chairman
1st March 2010, London, UK: Silence Therapeutics plc (the "company" or "Silence": SLN:L), today announces that Iain Ross has resigned his position as chairman and a director of the board. The company also announces that Melvyn Davies has resigned his position as chief financial officer and company secretary.
Mr. Ross joined the Company in July 2004 as Chairman. In 2005, Mr. Ross consummated the acquisition of Atugen to bring the siRNA technology into Silence. Since then he has been instrumental in the development of the company and its assets, culminating in the recent fundraising and transaction with Intradigm.
Mr. Davies has been with Silence for 15 years and has been a great asset, coordinating the company's many transactions and acquisitions over the years. Mr. Davies will provide assistance to the Company for up to three months to ensure an orderly transition to his successor.
The board of the company has appointed Jerry Randall, currently senior independent director, as chairman to replace Mr. Ross. The company has initiated a search for a new chief financial officer.
"I would like to extend my own and the board's heartfelt thanks to both Iain and Melvyn for all they have contributed to Silence, its shareholders and employees over many years," stated Mr. Randall. "In particular, we'd like to recognize Iain's leadership in the development of Silence with its siRNA technology over the last five years since the acquisition of Atugen and most recently in our transaction with Intradigm. Through these efforts, Iain significantly broadened the Silence technology platform and secured a presence in the US."
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Silence Therapeutics plc +44(0)20 7491 6520
Jerry Randall, Chairman
Phil Haworth, CEO
Vida Communication +1 415 675 7400
Stephanie Diaz (investors)Tim Brons (media)Nominated Advisers
Nomura Code Securities Limited +44(0)20 7776 1200
Richard Potts, Chris Collins
Notes to Editors:
About Silence Therapeutics plc (www.silence-therapeutics.com)
Silence Therapeutics plc (AIM: SLN) is a leading global biotechnology company dedicated to the discovery, development and delivery of targeted, systemic RNA interference (RNAi) therapeutics for the treatment of serious diseases. The company possesses multiple proprietary siRNA delivery technology platforms including AtuPLEX, a system that enables the functional delivery of siRNA molecules to targeted diseased tissues and cells, while increasing their bioavailability and intracellular uptake. Through the merger with Intradigm, the group has a second, complementary delivery technology offering safe and effective systemic administration using a library of novel peptide-based biodegradable polycationic polymers.
Additionally, the company has a platform of novel short interfering RNA (siRNA) molecules, AtuRNAi, which provide a number of advantages over conventional siRNA molecules, including increased stability against nuclease degradation. Silence's unique RNAi assets also include structural features for a next generation of RNAi molecules and additional proprietary siRNA sequences against more than 50 highly valued oncology and other disease targets.
Silence's lead internal product, Atu027, is a proprietary AtuRNAi molecule in clinical development for systemic cancer indications. Atu027 has successfully completed single and repeat dose toxicology and geno-toxicology studies, as well as a 28-day toxicology study using multiple dosing regimens. In June 2009, the company initiated an open-label, single-centre, dose-escalation Phase I study with Atu027 in patients with advanced solid (malignant) tumors involving single, as well as, repeated intravenous administration.
Silence is one of only two companies worldwide with a proprietary position on composition of matter for siRNA therapeutics. In addition, through the merger with Intradigm the group has an impressive proprietary portfolio of siRNA sequences against more than 50 highly valued oncology and other disease targets and has secured an exclusive license to the Zamore patent family from the University of Massachusetts, which covers broad structural features of siRNA design for more potent next generation siRNA sequences.
Silence Therapeutics is based in London, Berlin and Palo Alto, CA, and is listed on AIM.
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.
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