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2 Oct 2007 13:30
Silence Therapeutics plcDirectors' Dealings
London 2 October 2007 - Silence Therapeutics plc (the Company) announces that the following share transactions by directors have taken place today:
A pension fund in which Mr Iain Ross, the Chairman, has a beneficial interest bought 94,316 Silence Therapeutics plc ordinary 1p shares at 106.5p per share. Following this acquisition, Mr Ross has an interest in 194,316 ordinary shares of the Company, representing 0.16% of the Company's total voting rights.
In a separate transaction, Mr Iain Rugheimer, a non-executive director, exercised options over 200,000 shares at 27p per share and sold the resulting shares at 106.0875p per share in order to meet personal liabilities. Mr Rugheimer was granted these options in May 2004 and retains an interest in a further 450,000 options.
- 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's AtuRNAi technology has also been sublicensed to Pfizer by Quark Pharmaceuticals, through Quark's license of the compound RTP-801i-14 for the treatment of Age-related Macular Degeneration (AMD) and a number of other indications. This compound entered the clinic in early 2007. Quark Pharmaceuticals, Inc. has developed a further one of its proprietary compounds, AKIi-5, based on AtuRNAi technology under the existing licence from Silence Therapeutics. 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 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 Jeff Vick, CEO +44(0)20 7638 9571 Melvyn Davies, Finance Director Yvonne Alexander David Dible Nominated Adviser Grant Thornton Corporate Finance +44 (0) 20 7383 5100 Gerry Beaney Colin Aaronson
SILENCE THERAPEUTICS PLC
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