WINNERSH, UNITED KINGDOM--(Marketwired - June 30, 2014) - Vernalis PLC (LSE: VER) (PINKSHEETS: VNLPY)
Submission of Tuzistra™ XR (CCP-01) NDA to FDA
Vernalis plc and Tris Pharma, Inc. ("Tris") are pleased to announce that a New Drug Application ("NDA") has been submitted to the U.S. Food and Drug Administration ("FDA") for Tuzistra™ XR ("CCP-01"), for the acute treatment of cough cold. The FDA has 60 days in which to confirm whether the NDA is accepted for full review, and on receipt of this confirmation a milestone payment to Tris is triggered.
Under the exclusive licensing agreement announced in February 2012, Tris is developing, on behalf of Vernalis, up to six unique extended release equivalents to existing immediate release prescription cough cold treatments. CCP-01 represents the first product within this pipeline to reach NDA stage. The financial terms of this licensing deal are not disclosed.
Ian Garland, CEO of Vernalis commented "The submission of the Tuzistra™ XR NDA is a significant achievement in our collaboration with Tris. We are delighted with the continuing progress of our cough cold programmes and look forward to further successes over the remainder of the year."
Ketan Mehta, CEO of Tris commented, "Both our companies share a common vision and commitment of better serving cough cold patients. We look forward to several additional submissions over the next couple of years."
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Ian Garland, Chief Executive Officer +44 (0) 118 938 0015
David Mackney, Chief Financial Officer
Tris Pharma, Inc.:
Peter Ciano, SVP, Strategy and Corporate Development +1 732-940-2800 x104
Canaccord Genuity Limited (Nominated Adviser): +44 (0) 20 7523 8350
Dr Julian Feneley
Shore Capital (Joint Broker): +44 (0)20 7408 4090
Brunswick Group: +44 (0) 20 7404 5959
Notes to Editors
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 seven programmes in its NCE development pipeline. Vernalis has also significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products have been endorsed over the last five years by collaborations with leading pharmaceutical companies, including AKP, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier and Tris.
For further information about Vernalis, please visit www.vernalis.com
About Tris Pharma
Tris Pharma is a specialty pharmaceutical company focused on the research and development of technologies-driven products. Tris has pioneered the delivery of sustained release in the liquid, chewable/ODT and strip dosage forms so patients do not have to swallow a pill. Tris' Nobuse™ technology provides abuse deterrence for opioids and other abuse-prone drugs. Tris' R&D and manufacturing facilities are located in Monmouth Junction, New Jersey, U.S.A.
For more information, please visit www.trispharma.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.