27 Jul 2007 07:00
Silence Therapeutics strengthens Management Team with the appointment of CEO
London, UK, 27 July 2007 Silence Therapeutics plc ("the Company") announces that it has appointed Jeffery Scott Vick as Group CEO in order to strengthen its core management team as the Company seeks to expand its business partnerships.
Jeff Vick (45) is a B.S. chemistry graduate of the University of Virginia, USA, has a Masters Degree in Chemistry from the University of California, San Diego and an MBA from Stanford Graduate School of Business.
Jeff has extensive international experience having worked in senior positions in the healthcare industry in both Europe and the USA. In his early career he gained experience as a business analyst and biotech venture capitalist and importantly he worked in the drug delivery sector for five years in senior management roles with DepoTech Corporation in the USA.
From 1998-2001, as Vice President Corporate Development for Cytovia Inc he was responsible for negotiating multi-million dollar collaborations in the biotech sector. In 2001 he moved to Europe to take up an appointment as Vice President Business Development at Genset S.A., which was subsequently sold to Serono at a substantial premium. In 2003 Jeff was appointed Vice President Corporate Development and Intellectual Property of Centelion SAS, which now is owned by Sanofi Aventis. There is no further information required to be disclosed under Schedule 2 paragraph (g) of the AIM Rules.
Jeff joins the Company with effect from today and will be based in London and work closely with Iain Ross, who will continue in his role as Executive Chairman.
Jeff Vick has been granted options over 1,500,000 ordinary shares in Silence Therapeutics plc at an exercise price of 127p per share, being the mid-market price of the shares at the close of business on the day before his appointment.
Iain Ross, Executive Chairman of Silence Therapeutics plc, said:
"Following an extensive worldwide search we are absolutely delighted that an individual of Jeff's calibre and ambition has agreed to take up the appointment as Group CEO of Silence Therapeutics plc. This Company is operating in one of the `hottest' sectors and has ongoing discussions on its RNAi technology across a wide variety of initiatives in terms of R&D collaborations, licensing and M& A. Jeff has the relevant corporate, business, operational, science and Intellectual Property experience we need to ensure we capitalise upon these opportunities to enhance shareholder value."
Jeff Vick, Group CEO of Silence Therapeutics plc commented:
"The RNAi space is the most exciting new area in pharmaceutical drug discovery. Silence's proprietary RNAi and drug delivery technologies ensure the Company has the potential to bridge the gap from functional genomic information to create a new class of effective human therapeutic products. I am thrilled to take up the position of CEO of Silence Therapeutics plc and have the opportunity to work with Iain Ross and the Board of Directors to take the Company to the next level."
- Ends - 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 over conventional siRNA molecules as they show increased stability against nuclease degradation. In addition, the Company has developed a proprietary systemic delivery system, AtuPLEX. This enables the delivery of siRNA molecules to targeted diseased tissues and cells, whilst increasing their bioavailability and intracellular uptake.
In July 2007, Silence Therapeutics formed a research and development collaboration with Astra Zeneca to develop AtuRNAi against five targets in respiratory indications. The Group has also sublicensed the AtuRNAi compound RTP-801i to Pfizer through its collaboration partner Quark Biotech Inc. for the treatment of Age-related Macular Degeneration (AMD) and a number of other indications. This compound entered the clinic in early 2007. Silence Therapeutics has licensed a further AtuRNAi compound, AKIi-5, to Quark Biotech Inc. This compound has been granted an IND for acute kidney injury and is expected to enter the clinic in 2007. In addition, Silence Therapeutics expects to begin the clinical development of its proprietary AtuRNAi therapeutic molecules for systemic cancer indications, such as gastrointestinal and non-small lung cancer, in 2008.
Silence Therapeutics is based in London, UK, and Berlin, Germany, and is listed on AIM.
About RNAi
RNA interference (RNAi), a Nobel Prize winning technology, is one of the most exciting areas of drug discovery today. It represents a completely new approach to selectively 'silence' or inactivate disease relevant genes and as such it has the potential to create a new class of therapeutic products. RNAi could therefore offer a therapeutic approach to a broad range of diseases (cancer, infectious diseases, inherited diseases), many of which have been regarded as incurable and are not addressed by current therapeutics, therefore providing a large 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.
Enquiries:
For further information, please contact the following:
Silence Therapeutics plc Investor Relations +44(0)20 7307 1620 Citigate Dewe Rogerson Iain Ross, Executive Chairman +44(0)20 7638 9571 Melvyn Davies, Finance Director David Dible Yvonne Alexander Nominated Adviser Grant Thornton Corporate Finance +44 (0) 20 7383 5100 Gerry Beaney Colin Aaronson
SILENCE THERAPEUTICS PLC