Silence Therapeutics says that it wants to raise between £4m and £5m in order to finance its development and marketing requirements until 2014.
There was £3.69m in the bank at the end of 2011. At 1.27p a share, Silence is valued at £7.36m so the fund raising will be highly dilutive.
Silence is involved in the development of RNA interference (RNAi) therapeutics to treat serious diseases. There have been positive results from the ongoing Phase I study of Atu027, its lead internal therapeutics candidate.
The study is designed to assess different doses of Atu027 for subjects with advanced solid cancer.
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