13 Jan 2017 14:03
Minority stake in Arrowhead Pharmaceuticals
13th January 2017
London, 13th January 2017 - Silence Therapeutics plc, AIM:SLN ("Silence" or the "Company") a leader in the discovery, delivery and development of novel RNA therapeutics for the treatment of serious diseases with unmet medical need, provides an update to its announcement on 9th January 2017 regarding the acquisition of a minority stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) ("Arrowhead").
Silence has today filed a Schedule 13D with the US Securities and Exchange Commission ("Schedule 13D"). Following additional purchases made by the Company since the 9th January, the Schedule 13D sets out that Silence, as at 13th January 2017, directly owns 6,831,359 common shares of Arrowhead, representing 9.21% of the outstanding share capital of Arrowhead. In aggregate, Silence has paid a total consideration of $11.3 million to acquire the 6,831,359 common shares.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU No. 596/2014). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Enquiries:
Silence Therapeutics plc Ali Mortazavi, Chief Executive Officer David Ellam, Chief Financial Officer
| Tel: +44 (0)20 3457 6900
|
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) Rupert Winckler/Henry Fitzgerald-O'Connor/Emma Gabriel
| Tel: +44 (0)20 7523 8350
|
Peel Hunt LLP (Joint Broker) James Steel/Oliver Jackson
| Tel: +44 (0)20 7418 8900 |
Media Enquiries: FTI Consulting Simon Conway/Brett Pollard/Stephanie Cuthbert
| Tel: +44 (0) 20 3727 1000
|
Notes to Editors
About Silence Therapeutics plc
Our technology harnesses the body's natural mechanisms to create therapeutic effects within its cells. This technology can selectively silence or replace any gene in the genome, modulating gene expression up as well as down in a variety of organs and cell types, in vivo. We have developed proprietary modifications to improve the robustness of RNA sequences, as well as advanced chemistries to enhance the effective delivery of therapeutic RNA molecules to target cells.