Silence Therapeutics (LON:SLN) reported that it is no longer in takeover discussions, which were first mentioned in September 2010.
Silence said has received a number of indicative proposals, but “it is the view of the board that none of these were sufficiently compelling to pursue further in the context of the continued success of the company”.
The discussions were terminated to “focus on the ongoing business”.
The company first said it received an approach in September, triggering a buying spree that drove its shares up 50% to 10.75 pence.
The stock last traded at 6.9 pence.
In November it was reported that research had shown that Silence’s lead RNA interference (RNAi) drug candidate Atu027 can prevent the formation of pulmonary metastasis in various animal models of cancer metastasis.
The Phase I study of Atu027, which commenced in June 2009, is expected to be completed early in the second half of 2011.
According to Silence, it possesses one of the world’s most comprehensive RNAi therapeutic platforms - comprised of proprietary delivery technologies, potent siRNA sequences and innovative siRNA structural features.
Silence has a number of partnerships with major pharmaceutical companies such as AstraZeneca (LON:AZN), Pfizer (NYSE:PFE), Quark Pharma and Dainippon Sumitomo (TYO:4506).
Back in October, Silence announced that an important European patent has been granted for the RNAi structural modification technology known as the "Zamore Design Rules", which it is licensing from the University of Massachusetts Medical School.