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Silence Therapeutics' chairman to take on executive role

"The company is in its most robust health both financially and operationally and we look forward to further BD discussions and scientific advancements with our pipeline"

Silence Therapeutics PLC -

Silence Therapeutics PLC (LON:SLN) has appointed Iain Ross as executive chairman with immediate effect while a replacement is found for chief executive David Horn Solomon.

Ross joined the AIM-listed RNA therapeutics specialist as non-executive chairman in April and has worked with Horn Solomon since then to strengthen the management team.

The company recently signed a “transformational development and licensing deal” with US drugs company Mallinckrodt and said it is in discussions with other potential partners over additional business development deals.

Earlier, in a separate announcement, Silence said that a bankruptcy motion had been filed in Denmark against Horn Solomon arising from his time as managing partner of Sund Capital from 2016 to 2018.

Silence said it was a “personal matter, entirely unrelated to Silence” and that it was confident that Horn Solomon could in time meet his financial obligations.

The matter is due to be heard by a court in Denmark in the next few days.

The search to find a suitable successor has begun, the company said in a statement.

Ross said: “The company is in its most robust health both financially and operationally and we look forward to further BD discussions and scientific advancements with our pipeline."

Quick facts: Silence Therapeutics PLC

Price: 463 GBX

AIM:SLN
Market: AIM
Market Cap: £383.49 m
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