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Silence Therapeutics Announces Subscription and Open Offer to Raise up to £5.7 Million
Date:7/11/2012

s set out in the New Articles.  The Directors consider the Deferred Shares so created to be of no economic value.  The Deferred Shares will, subject to Shareholder approval pursuant to Resolution 9 of the Resolutions, be repurchased by the Company in accordance with the New Articles for one pence in aggregate and, following such repurchase, shall be cancelled.  The repurchase of the Deferred Shares will be financed out of the proceeds of the issue of the New Ordinary Shares.

The Share Capital Reorganisation will enable the Company to issue and allot shares at a price below the former nominal value of the Ordinary Shares.

No certificates will be sent to Shareholders in respect of the Share Capital Reorganisation, as Shareholder holdings will not change.

Future Activities

During the last 12 months Silence has made progress in advancing its pipeline, capitalising on its RNAi drug delivery capabilities through research collaborations with third parties and in strengthening its intellectual property. In addition, Silence' licensee Quark Pharmaceuticals Inc. has continued to make progress with its clinical programmes which are based on Silence' AtuRNAi technology. The Company is now focused on creating value by making further advances in all aspects of the business.

Atu027

Atu027, for the treatment of solid tumours, is Silence' most advanced internal drug candidate. Atu027 combines Silence' proprietary drug delivery system AtuPLEX with AtuRNAi, the Company's proprietary RNAi chemistry. Atu027 specifically targets PKN3, a protein implicated in cancer growth and metastases. Pre-clinical studies have indicated that Atu027 works by inhibiting blood supply to solid tumours and has a particular profound impact on the prevention and growth of metastases. Combination with other currently marketed anti-cancer drugs has demonstrated additive effects in pre-clinical studies.

Silence is currently conducting a Phase I tri
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SOURCE Silence Therapeutics Plc
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