Drug research and development group Silence Therapeutics has merged with rival Intradigm Corporation.
London-based drug research and development group Silence Therapeutics has merged with rival Intradigm Corporation.
As part of the deal, AIM-listed Silence Therapeutics has raised £15 million through a placing at 23 pence per share.
Iain Ross, currently chairman of Silence Therapeutics, will become chairman and CEO of the group, while current CEO of Intradigm, Philip Haworth, will become chief executive of the Silence Therapeutics business.
Philip Haworth, chief executive of Intradigm, said: ‘By combining the expertise of both Intradigm and Silence, we now have one of the industry’s most comprehensive and versatile delivery technology platforms, providing the enlarged company with [the] potential to develop delivery solutions that can be tailored to address various therapeutic requirements.’
In the six months ending June, London-based Silence reported revenue of £856,000 and pre-tax losses of £3.6 million.