Silence Therapeutics PLC Minority Stake in Arrowhead Pharmaceuticals (1602U)

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RNS Number : 1602U

Silence Therapeutics PLC

13 January 2017

Minority stake in Arrowhead Pharmaceuticals

13(th) January 2017

London, 13(th) 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 9(th) 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 9(th) January, the Schedule 13D sets out that Silence, as at 13(th) 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                          Tel: +44 (0)20 
  Ali Mortazavi, Chief Executive                    3457 6900 
  Officer 
  David Ellam, Chief Financial Officer 
 Canaccord Genuity Limited (Nominated              Tel: +44 (0)20 
  Adviser and Joint Broker)                         7523 8350 
  Rupert Winckler/Henry Fitzgerald-O'Connor/Emma 
  Gabriel 
 Peel Hunt LLP (Joint Broker)                      Tel: +44 (0)20 
  James Steel/Oliver Jackson                        7418 8900 
 Media Enquiries:                                  Tel: +44 (0) 20 
  FTI Consulting                                    3727 1000 
  Simon Conway/Brett Pollard/Stephanie 
  Cuthbert 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 13, 2017 09:03 ET (14:03 GMT)