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

ated several programmes looking at liver fibrosis and liver cancer in collaboration with Professor Schuppan and Professor Pinzani, two key opinion leaders in the field of liver disease. These collaborators are facilitating target selection and providing proof-of-concept experimental systems.

Lung projects

In addition to its Atu111 programme, Silence is looking to exploit DACC, its lung endothelium specific RNAi delivery system in other areas of lung disease and is therefore exploring several drug candidates in a variety of lung cancer models.

New delivery systems

Silence continues to work to both improve its existing, and develop, new RNAi delivery systems that target new cell types and organs.

Zamore Design Rules

Through its acquisition of Intradigm Corporation, Silence obtained exclusive licences to three Zamore patent families from the University of Massachusetts Medical School, where Philip D. Zamore, PhD is the co-director of the RNA Therapeutics Institute. Following a review of these licences, Silence has now decided that their high cost of maintenance is not warranted and has entered into discussion with the University of Massachusetts with a view to returning these rights.

Terms of the Subscription

The Company has today conditionally placed 840,000,000 Subscription Shares at 0.5 pence per share with existing and new investors to raise £4.2 million before expenses.  The Subscription is conditional, inter alia, upon the passing of the Resolutions 1 to 3 and 8 and 9 (as set out in the Notice of General Meeting), the Share Capital Reorganisation occurring and Admission.

Details of the Open Offer

Silence is proposing to raise up to £0.5 million (before expenses) pursuant to the Open Offer. The proposed Issue Price of 0.5 pence per Open Offer Share is the same price as the price at which the Subscription Shares are being issued.

The Open Offer is being made on a pre-
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SOURCE Silence Therapeutics Plc
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