Silence Therapeutics PLC (LON:SLN) shares rose on Thursday following news it has appointed Iain Ross as a non-executive director and its chairman with immediate effect, with the experienced director returning to a role he held from 2005 to 2010.
The AIM-listed group, a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, pointed out that Ross is a highly experienced board director with a career in the international life sciences and technology sectors that spans 40 years.
Currently, it added, he is non-executive chairman at Kazia Therapeutics Limited, e-Therapeutics PLC and Redx Pharma Plc.
Dr. David Horn Solomon, Silence’s chief executive officer commented: “Iain brings with him extensive healthcare and governance experience and I am looking forward to working with him to build significant value for shareholders, patients and their caregivers.”
Incoming chairman Ross added: "I am delighted to be returning to Silence Therapeutics and I look forward to working with David, the new management team and all stakeholders. With a renewed strategy in place and a return to the clinic imminent I believe Silence now represents a fundamentally transformed value proposition and I am excited to work with the team and to bring some stability to the Board to deliver on its potential."
Silence also announced the appointment of James Ede-Golightly as a non-executive director, while it said Stephen Parker will step down from that role, both with immediate effect.
In a note to clients, analysts at ‘house’ broker Peel Hunt pointed out that today’s announcements follow other recent changes to Silence’s management and the board.
“As a reminder of other recent appointments at Silence, Rob Quinn was appointed CFO from his role as interim CFO (18th April) and Giles Campion was appointed (16th April) Head of R&D and Chief Medical Officer (previously SVP of R&D at Prosena and holding senior roles at Novartis and Albumedix),” they said.
Peel Hunt continues to have its rating and target price for Silence ‘under review’.
In afternoon trading, the shares were 4.3% higher at 73p.
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