Silence Therapeutics Interim Results For The Six Months Ended 30 June 2015
London, 29 September 2015 - Silence Therapeutics plc, AIM:SLN (“Silence” or the “the Company”) a leader in the development and delivery of novel RNA therapeutics announces its unaudited interim results for the six months ended 30 June 2015.
Highlights
• Atu027 showed encouraging signs of a dose response effect on progression free survival in pancreatic cancer patients with metastatic disease.
• Completed a placing raising net proceeds of £38.9 million, including new investors Invesco Ltd and Woodford Investment Management LLP.
• The Board of Appeal at the European Patent Office upheld Silence’s patent on RNA modification against an appeal by four parties including the industry leader.
Financial Highlights
• Loss after tax for the period of £4.1 million (2014: £5.6 million).
• Net cash of £55.8 million at 30 June 2015 (2014: £21.3 million).
Post period end
• Ali Mortazavi took compassionate leave due to a serious family illness and returned on 21 September 2015, as planned.
• Chairman Alastair Riddell retired from the board on Ali Mortazavi’s return and Stephen Parker became Non-Executive Chairman.
• Progress continues in our siRNA-based preclinical programmes. Encouraging early results were obtained in pulmonary arterial hypertension.
• Successful and therapeutic protein production driven by messenger RNA (mRNA) delivery now in several species and a range of tissues.
• New R&D team dedicated to CRISPR/Cas9 gene editing technology.
• R&D expansion into non liposomal conjugation delivery systems.
Ali Mortazavi Chief Executive of Silence Therapeutics commented
“The first half of 2015 has been transformational for Silence Therapeutics. Not only have we made progress with our platform technology but have also made meaningful strides in the clinic. Separately, the quantum and profile of new and existing shareholders have enabled our company to begin to truly compete on a global stage. We are now perfectly positioned to tackle the most serious diseases using our genetic medicine toolkit.”
Stephen Parker Non-Executive Chairman said
"I am pleased that Silence has continued to progress in the period, with a good clinical result and a highly successful fund raising through which we attracted the support of several major investors. I am confident that, with Ali Mortazavi returned to the Company, we will continue to further our ambition to create a world-class genetic medicine company."
Enquiries:
Silence Therapeutics plc
Ali Mortazavi, Chief Executive Officer
Timothy Freeborn, Chief Financial Officer
Tel: +44 (0)20 3457 6900
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
Dr Julian Feneley/Henry Fitzgerald-O'Connor/Emma Gabriel
Tel: +44 (0)20 7523 8350
Peel Hunt LLP (Joint Broker)
James Steel/Dr Tom Burt/Oliver Jackson
Tel: +44 (0)20 7418 8900
Media Enquiries:
FTI Consulting
Simon Conway/Brett Pollard/Stephanie Cuthbert
Tel: +44 (0) 20 3727 1000
Help employers find you! Check out all the jobs and post your resume.
Highlights
• Atu027 showed encouraging signs of a dose response effect on progression free survival in pancreatic cancer patients with metastatic disease.
• Completed a placing raising net proceeds of £38.9 million, including new investors Invesco Ltd and Woodford Investment Management LLP.
• The Board of Appeal at the European Patent Office upheld Silence’s patent on RNA modification against an appeal by four parties including the industry leader.
Financial Highlights
• Loss after tax for the period of £4.1 million (2014: £5.6 million).
• Net cash of £55.8 million at 30 June 2015 (2014: £21.3 million).
Post period end
• Ali Mortazavi took compassionate leave due to a serious family illness and returned on 21 September 2015, as planned.
• Chairman Alastair Riddell retired from the board on Ali Mortazavi’s return and Stephen Parker became Non-Executive Chairman.
• Progress continues in our siRNA-based preclinical programmes. Encouraging early results were obtained in pulmonary arterial hypertension.
• Successful and therapeutic protein production driven by messenger RNA (mRNA) delivery now in several species and a range of tissues.
• New R&D team dedicated to CRISPR/Cas9 gene editing technology.
• R&D expansion into non liposomal conjugation delivery systems.
Ali Mortazavi Chief Executive of Silence Therapeutics commented
“The first half of 2015 has been transformational for Silence Therapeutics. Not only have we made progress with our platform technology but have also made meaningful strides in the clinic. Separately, the quantum and profile of new and existing shareholders have enabled our company to begin to truly compete on a global stage. We are now perfectly positioned to tackle the most serious diseases using our genetic medicine toolkit.”
Stephen Parker Non-Executive Chairman said
"I am pleased that Silence has continued to progress in the period, with a good clinical result and a highly successful fund raising through which we attracted the support of several major investors. I am confident that, with Ali Mortazavi returned to the Company, we will continue to further our ambition to create a world-class genetic medicine company."
Enquiries:
Silence Therapeutics plc
Ali Mortazavi, Chief Executive Officer
Timothy Freeborn, Chief Financial Officer
Tel: +44 (0)20 3457 6900
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
Dr Julian Feneley/Henry Fitzgerald-O'Connor/Emma Gabriel
Tel: +44 (0)20 7523 8350
Peel Hunt LLP (Joint Broker)
James Steel/Dr Tom Burt/Oliver Jackson
Tel: +44 (0)20 7418 8900
Media Enquiries:
FTI Consulting
Simon Conway/Brett Pollard/Stephanie Cuthbert
Tel: +44 (0) 20 3727 1000
Help employers find you! Check out all the jobs and post your resume.