12 April 2011 -- Vernalis plc (LSE: VER), a leading development stage pharmaceutical company with a broad pipeline of clinical and early stage programmes, today announces that it has successfully regained rights to the next generation A2A receptor antagonist programme for Parkinson’s disease and potentially other neurological disorders from Biogen Idec (NASDAQ: BIIB).
The lead molecule, V81444, is Phase I ready, having received MHRA approval for first dosing in man. A separate announcement will be made when the first subject has been dosed in this Phase I study which will be in healthy volunteers and designed to assess the safety, tolerability and pharmacokinetic profiles.
Ian Garland, CEO of Vernalis commented “We are delighted to have the opportunity to regain full ownership of this programme following Biogen Idec’s strategic review of its priority programmes. The compounds will transfer back to Vernalis and we intend to progress this potential therapy for Parkinson’s disease and other neurological disorders”.
Enquiries:
Vernalis Contacts
Ian Garland, Chief Executive Officer
+44 (0) 118 989 9360
David Mackney, Chief Financial Officer
Brunswick Group
Jon Coles
+44 (0) 20 7404 5959
Justine McIlroy
Taylor Rafferty
Rob Newman
+44 (0) 20 7614 2900
Faisal Kanth
About Parkinson’s Disease
Parkinson’s disease is a neurodegenerative disease that impacts four to six million people worldwide in which cells that help to regulate movement are unable to produce adequate levels of a chemical messenger called dopamine. Parkinson’s disease symptoms occur when approximately 80% of these cells no longer function. Parkinson’s disease progresses over time with symptoms including trembling in hands, arms, legs, jaw, and face; stiffness of the limbs and trunk; slowness of movement; and impaired balance and coordination.
Although there is no cure for Parkinson’s disease, there are drugs that treat its symptoms. Some directly boost the level of dopamine in the brain, some prevent the breakdown of dopamine, and others stimulate the same receptors as dopamine. Generally positive in the short-term, these treatments can have troublesome side effects and tend to become less effective over time. There is a critical need to identify different pathways for treating this disease.
About The A2A Pathway
The chemical adenosine plays an important role in the brain in motor co-ordination and movement control. Adenosine A2A receptors are found together with dopamine receptors in critical areas of the brain that are damaged in Parkinson’s disease. This close association may allow adenosine A2A receptors to modify the effect of dopamine on brain activity. Blockade of the adenosine A2A receptor may have the potential to compensate for the loss of dopamine and to restore the motor imbalance caused by Parkinson’s disease without causing some of the troublesome side effects caused by therapies acting via the dopamine system. Proof of concept has been established in Phase 2 studies with adenosine A2A receptor inhibitors in both early and late stage Parkinson’s disease.
About Vernalis
Vernalis is a development stage pharmaceutical company with significant expertise in taking promising product candidates along a commercially-focused path to market. The Group has one marketed product, frovatriptan for the acute treatment of migraine, and eight candidates in development, seven of which are designated priority programmes. Four of these priority development programmes are currently unpartnered and three are partnered. Pipeline programmes are derived from both our own research activities where we have significant expertise in fragment and structure based drug discovery, as well as from collaborations. Our technologies, capabilities and products are endorsed by collaborations with Endo, GSK, Lundbeck, Menarini, Novartis and Servier.
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.
