Silence Therapeutics, a publicly traded biotech firm based in the U.K., said it has made a $9.6 million equity investment in Arrowhead Pharmaceuticals.
Silence said it acquired about 8.4 percent of the outstanding shares of common stock in Arrowhead (NASDAQ: ARWR), which is based in Pasadena, CA, but houses its research and development team in Madison, WI.
Both companies are focused on developing therapies designed to attack viruses using ribonucleic acid interference (RNAi), which destroys messenger RNA from viruses before the infected cell turns those RNA into proteins that propagate the infection. This interference is also known as “gene silencing.”
Silence had been evaluating several different RNAi-focused companies and technologies since raising the equivalent of about $48 million from investors in 2015, according to a news release. Read the full story here.
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