Latest Deep Track Capital News
Dec 1, 2021
1 December 2021 LONDON, Silence Therapeutics plc, Nasdaq: SLN (“Silence” or “the Company”), a leader in the discovery, development and delivery of novel short interfering ribonucleic acid (siRNA) therapeutics for the treatment of diseases with significant unmet medical need, today announced that Deep Track Capital, a U.S. investment firm focused exclusively on the life sciences industry, purchased approximately $22 million of American Depository Shares (ADSs) in Silence from existing shareholders. Gerard Smith, M.D., Principal at Deep Track Capital, said: “Silence has a promising wholly-owned clinical stage pipeline in addition to its proprietary mRNAi GOLD™ platform that we believe could drive long term growth and value creation for patients and shareholders. We look forward to supporting the Silence team in the journey ahead.” Mark Rothera, President and Chief Executive Officer at Silence, said: “We are excited to have Deep Track Capital’s support as we initiate our next phase of growth based on maximizing the opportunity of our proprietary mRNAi GOLD™ platform. Next year is set to be another big year for the Company, starting with topline data from our wholly owned SLN360 program for high lipoprotein(a) anticipated in the first quarter of 2022.” Craig Tooman, Chief Financial Officer at Silence, said: “Yesterday marked our first day of trading exclusively on Nasdaq, a move we made to support increasing interest from new investors. We are very pleased to have Deep Track Capital join our expanding U.S. institutional shareholder base and expect this trend to continue.” Enquiries: About Silence Therapeutics Silence Therapeutics is developing a new generation of medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, to inhibit the expression of specific target genes thought to play a role in the pathology of diseases with significant unmet need. Silence's proprietary mRNAi GOLD™ platform can be used to create siRNAs (short interfering RNAs) that precisely target and silence disease-associated genes in the liver, which represents a substantial opportunity. Silence's wholly owned product candidates include SLN360 designed to address the high and prevalent unmet medical need in reducing cardiovascular risk in people born with high levels of lipoprotein(a) and SLN124 designed to address iron-loading anemia conditions. Silence also maintains ongoing research and development collaborations with AstraZeneca, Mallinckrodt Pharmaceuticals, and Hansoh Pharma, among others. For more information, please visit https://www.silence-therapeutics.com/ . Forward-Looking Statements Certain statements made in this announcement are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other securities laws, including with respect to the Company's clinical and commercial prospects and the anticipated timing of data reports from the Company's clinical trials. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including those risks identified in the Company's most recent Admission Document and its amended Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 29, 2021. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
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