15 Apr 2010 07:00
Silence Therapeutics Appoints Max Herrmann as Chief Financial Officer Appointment Adds Key Financial and Fundraising Experience
LONDON, April 15 - Silence Therapeutics plc (AIM: SLN) ("Silence" or the "Company") announces the appointment of Max Herrmann as the Company's chief financial officer and company secretary with effect from May 4, 2010. Mr. Herrmann, 44, possesses more than 20 years of biotechnology and pharmaceutical industry experience having held key management positions with leading development stage companies, as well as several investment banks. In his industry and investment banking roles, he has been involved in the raising of more than US$300M for biotechnology companies in the United States and Europe.
Most recently Mr. Herrmann served as chief financial officer of Intercytex Group plc, a publicly traded company focused on the emerging area of regenerative medicine. Before joining Intercytex, he spent over ten years as a sell-side equity analyst, most recently as managing director and head of European pharmaceutical and biotechnology research at ING. Prior to his successful career in the City, Mr. Herrmann worked in the United States as financial controller for Onyx Pharmaceuticals Inc., where he was involved in the company's successful initial public offering on NASDAQ. He currently serves on the board of directors of Regenerative Medicine Assets Limited, as well as the company's subsidiaries Intercytex Ltd and Axordia Ltd.
Mr. Herrmann qualified as a Chartered Accountant with Arthur Andersen in 1993. He holds a degree in microbiology from the University of Kent.
"We are pleased to add an individual with Max's successful track record to the Silence team and expect that his range of operational and financial experience will greatly contribute to the long-term success of the Company," stated Philip Haworth, Ph.D., chief executive officer of Silence Therapeutics. "We are confident this expertise will serve the Company well as we continue to develop Silence's comprehensive RNAi therapeutics platforms."
"It is clear from the number of recent deals in the RNAi area that the biopharmaceutical industry is recognizing the potential of this technology. I am looking forward to joining one of the leading players in this field," commented Mr. Herrmann.
There are no other disclosures required under Schedule Two paragraph (g) of the AIM Rules for Companies.
About Silence Therapeutics plc (http://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(TM), a system that enables the functional delivery of siRNA molecules to targeted diseased tissues and cells, while increasing their bioavailability and intracellular uptake. A second, complementary delivery technology known as PolyTran(TM) uses a library of novel peptide-based biodegradable polycationic polymers for systemic siRNA administration. 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.
The company's strong and diverse intellectual property portfolio includes exclusive licenses from the University of Massachusetts on three patent families associated with the Zamore "Design Rules," which cover broad structural features of siRNA design for more potent next generation siRNA sequences.
Silence Therapeutics is headquartered in London, UK, with research and development operations in Berlin and Palo Alto, CA.
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.
SOURCE Silence Therapeutics plc
CONTACT: Phil Haworth of Silence Therapeutics, +1-650-855-1514, p.haworth@silence-therapeutics.com; or Richard Potts or Jonathan Senior, both of Nomura Code Securities for Silence Therapeutics, 020 7776 1200; or media, Tim Brons, tbrons@vidacommunication.com, or investors, Stephanie Diaz, sdiaz@vidacommunication.com, both of Vida Communication for Silence Therapeutics, +1-415-675-7400
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