Zerlasiran and divesiran is being analysed to treat cardiovascular risks and haematological diseases, respectively. Credit: S_L / Shutterstock.com.

Silence Therapeutics has announced an oversubscribed private placement of its 5,714,286 American depositary shares (ADS) priced at $21 each.

The company expects the aggregate gross proceeds of $120m (£94.6m) to advance its ribonucleic acid interference (RNAi) therapeutics for unmet medical needs.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The price of the ADS represents an 11% premium on the company’s 30-day volume-weighted average price.

New and existing institutional and accredited investors have shown interest. These include 5AM Ventures, Frazier Life Sciences, Logos Capital, Nextech Invest, Redmile Group, TCGX and Vivo Capital.

The offering will close on 7 February 2024.

The net proceeds from the private placement will be utilised by the company for the development of product candidates including zerlasiran and divesiran.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The funds will support the progression of the clinical development of divesiran (SLN124) and the manufacturing and clinical activities of Silence’s zerlasiran (SLN360).

Silence will also use the proceeds as working capital and for general corporate activities.

Morgan Stanley and William Blair are the lead placement agents for Silence in this transaction. Chardan and HC Wainwright are serving as co-placement agents.

Specialising in RNAi therapeutics, Silence is developing a new generation of medicines.

The company’s mRNAi GOLD platform creates short interfering RNAs that act on and mute genes linked to liver diseases.

Zerlasiran and divesiran are being analysed to treat cardiovascular risks and haematological diseases respectively.

Silence also maintains strategic research and development partnerships with AstraZeneca, Mallinckrodt Pharmaceuticals, Hansoh Pharma and others.

Silence Therapeutics chief financial officer Rhonda Hellums stated: “The financing provided by this blue-chip syndicate of investors, both new and existing, with whom we’ve had longstanding relationships, allows us to advance our divesiran PV programme through Phase II and into the next phase of development.

“The extended cash runway also positions us well as we continue Phase III readiness activities for zerlasiran and progress partnering discussions for this programme.”

Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.

Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content.