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Miles
Km80.5

   

First Product in Vernalis PLC (VNLPY.PK) Cough Cold Pipeline Achieves Proof-of-Concept


3/6/2013 11:57:43 AM

6 March 2013 -- Vernalis plc today announces its payment of a first milestone under its US prescription cough cold collaboration with Tris Pharma, Inc. (Tris). This milestone recognises the achievement by Tris of proof-of-concept (POC) for the first collaboration programme, CCP-01. Under the collaboration with Tris, POC required the successful completion of several activities, including a successful human pilot comparative study against an immediate release reference product. Assuming continued success, an NDA for CCP-01 is expected to be filed in mid-2014.

Under the deal announced in February 2012,Vernalis is paying Tris to develop up to six unique OralXR+TM based extended release liquid equivalents to existing immediate release prescription cough/cold treatments. An update on Vernalis’ portfolio of Tris programmes will be given at the time Vernalis announces its year end results. The financial terms of this licensing deal are not disclosed.

Ian Garland, CEO of Vernalis commented “We are delighted with this early success in our collaboration with Tris and look forward to a productive 2013 when we anticipate further significant progress for our cough/cold pipeline”.

Enquiries:

Vernalis Contacts:

Ian Garland, Chief Executive Officer +44 (0) 118 938 0015

David Mackney, Chief Financial Officer

Nomura Code Securities Limited: +44 (0) 20 7776 1200

Juliet Thompson

Jonathan Senior

Brunswick Group: +44 (0) 20 7404 5959

Jon Coles

About Vernalis

Vernalis is a revenue generating development stage pharmaceutical company with significant expertise in drug development. The Group has one marketed product, frovatriptan for the acute treatment of migraine, an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough/cold market as well as eight programmes in its NCE development pipeline. Vernalis has significant expertise in fragment and structure based drug discoverywhich it leverages to enter into collaborations with larger pharmaceutical companies. The Company’s technologies, capabilities and products are endorsed by collaborations with Endo, Genentech, Lundbeck, Menarini, Novartis, Servier and Tris.

For further information about Vernalis, please visit www.vernalis.com

Vernalis Forward-Looking Statement

This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of frovatriptan and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.



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