Geelong, Australia (23 April 2010). Verva Pharmaceuticals Ltd. today announced that the Company has commenced a phase 2a clinical proof-of-concept study evaluating its non-thiazolidinedione insulin sensitizer VVP808 as a treatment for type 2 diabetes. The study is currently recruiting participants at hospitals in Geelong and Melbourne, Australia. The VVP808-002 clinical trial is a randomized, placebo-controlled, double-blinded study evaluating the safety and efficacy of VVP808 in type 2 diabetes patients who are not receiving any other glucose modulating medications. Patients will receive oral VVP808 or placebo daily for 24 weeks. The primary efficacy endpoint of the study will be reduction in HbA1c. Secondary endpoints include fasting blood glucose, HOMA-IR index and improvement in participant risk factors such as body weight, waist circumference, blood pressure and lipid profile. Medical professionals and potential study participants may find more information about VVP808 and the trial at www.vervapharma.com/research-development/diabetes. About Verva Pharmaceuticals Ltd. Verva Pharmaceuticals Ltd. is a clinical-stage pharmaceutical company developing novel therapies to treat diabetes and to prevent and treat obesity. In addition to VVP808, Verva's pipeline includes: (i) a discovery program developing next-generation diabetes therapies based on VVP808 structure and mode-of-action and (ii) preclinical proof-of-concept with two obesity-focused technologies that block de novo fat formation. Further information can be found at www.vervapharma.com