Silence Therapeutics Says Approach May Lead to Offer; Shares Rise 31%

Silence Therapeutics Plc, whose shares have gained more than 30 percent since Sept. 2, said it has received an approach that may or may not lead to an offer.

The London-based company will make a further announcement in due course, it said in a statement today. The stock soared 4.76 pence, or 66 percent, the most since 1995, to close at 12 pence at 4:29 p.m. in London.

Silence Therapeutics in July extended a partnership with London-based AstraZeneca Plc by one year as the drugmaker seeks to develop medicines based on the U.K. biotechnology company’s technology to fight diseases by selectively switching off genes. Silence Therapeutics also is working with Quark Pharmaceuticals Inc. and Novartis AG. Silence Therapeutics last year merged with Intradigm Corp. of the U.S.

To contact the reporter responsible for this story: Angela Cullen at acullen8@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.