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Silence Therapeutics plc. (1/13/17). "Press Release: Minority Stake in Arrowhead Pharmaceuticals". London.

Organisations Organisation Silence Therapeutics plc (AIM: SLN)
  Group Silence Therapeutics (Group)
  Organisation 2 Arrowhead Pharmaceuticals Inc. (Nasdaq: ARWR)
  Group Arrowhead (Group)
Products Product RNAi technology
  Product 2 RNAi drug (RNAi therapeutic)
Index term Index term Arrowhead–Silence Therapeutics: investment, 201701 acquisition 6.83m common shares = 9.21% shareholding for $11.3m
Persons Person Mortazavi, Ali (Silence Therapeutics 201305– CEO before Director of Corporate Strategy joined 2012)
  Person 2 Ellam, David (Silence Therapeutics 201607– CFO before BioMarin + Plethora Solutions + Ark Therapeutics)
     


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 9th 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 9th January, the Schedule 13D sets out that Silence, as at 13th 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
Ali Mortazavi, Chief Executive Officer
David Ellam, Chief Financial Officer
Tel: +44 (0)20 3457 6900

Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
Rupert Winckler/Henry Fitzgerald-O'Connor/Emma Gabriel
Tel: +44 (0)20 7523 8350

Peel Hunt LLP (Joint Broker)
James Steel/Oliver Jackson
Tel: +44 (0)20 7418 8900

Media Enquiries:
FTI Consulting
Simon Conway/Brett Pollard/Stephanie Cuthbert
Tel: +44 (0) 20 3727 1000


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.

   
Record changed: 2017-07-17

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