Silence Buys Into Arrowhead Pharmaceuticals
UK-based Silence Therapeutics has acquired an 8.4% equity stake in US biotech group Arrowhead Pharmaceuticals to potentially advance progress in novel RNA therapeutics. Silence paid about $9.6 million for the common share capital of Arrowhead, which develops medicines to treat intractable diseases by silencing the genes that cause them through a broad portfolio of RNA chemistries.
Explaining the move, Silence said it believes Arrowhead’s intellectual property, technology and pipeline are “among the leading platform technologies in a sector that promises huge potential advances by generating novel medicines.”
The London-headquartered biotech added that it had acquired the stake in order to facilitate discussions regarding possible future business with the Pasadena, California-based group, such as product licensing, R&D collaboration, technology sharing or a potential corporate transaction.
“We believe that the recent technological advancements in RNA therapeutics have been underestimated and undervalued. We are confident that the recent market approval of medicines in our field is the beginning of the emergence of an important new class of therapeutics. We look forward to opening a constructive dialogue with Arrowhead," said Silence’s CEO, Ali Mortazavi.
Both companies have, however, confirmed that no discussions are currently taking place. Arrowhead said plans to develop its RNAi-based drug candidates ARO-HBV, ARO-AAT, ARO-F12, ARO-HIF2, ARO-LPA, ARO-AMG1 and other undisclosed programs, are unchanged and unaffected by Silence’s purchase, adding that it will also continue to seek partnerships and collaborations that maximize the value of its assets, as such opportunities arise in the future.
Arrowhead president and CEO, Chris Anzalone, stated, "We remain focused on advancing our programs in a way that maximizes stockholder value. While we welcome Silence as a stockholder, its recently announced stake in Arrowhead does not change our focus or strategic plans in any way."
