Vernalis PLC Vernalis Achieves Oncology Milestone with Servier (5294E)
July 19 2016 - 1:00AM
UK Regulatory
TIDMVER
RNS Number : 5294E
Vernalis PLC
19 July 2016
19 July 2016
LSE: VER
Vernalis achieves a milestone
in its Oncology Collaboration with Servier
Vernalis plc and Servier are pleased to announce the achievement
of a new milestone in their first oncology drug discovery
collaboration, triggering a payment of EUR500K to Vernalis.
Vernalis and Servier have been working in partnership using
Vernalis' proprietary fragment and structure-based drug discovery
platform on a number of oncology targets, including Bcl-2 and
Mcl-1. This milestone relates to success against an undisclosed
target. Under this collaboration Vernalis receives fees for work
undertaken and milestones and royalties on sales on products as
they progress. The financial terms of the agreement covering this
collaboration have not been disclosed.
Ian Garland, CEO of Vernalis commented: "We are extremely
pleased to achieve another milestone from this very successful
partnership with Servier and we look forward to further success
from this relationship."
Dr. Jean-Pierre Abastado, Director of the Oncology Innovation
Therapeutic Pole for Servier added: "The collaboration between
Servier and Vernalis has been extremely successful, relying on
Vernalis expertise in Structural Biology and Chemistry and Servier
expertise in Chemistry and Pharmacology. Over the years, strong and
fruitful relationships have been built between the two teams."
This announcement contains inside information.
-- ends --
Enquiries:
+44 (0) 118 938
Vernalis plc: 0015
Ian Garland, Chief Executive
Officer
David Mackney, Chief Financial
Officer
Canaccord Genuity Limited (Nominated +44 (0) 20 7523
Adviser): 8000
Dr Julian Feneley
Henry Fitzgerald-O'Connor
Rupert Winckler
Emma Gabriel
+44 (0)20 7408
Shore Capital (Joint Broker): 4090
Bidhi Bhoma
Toby Gibbs
+44 (0) 20 3727
FTI Consulting: 1000
Ben Atwell
Simon Conway
Stephanie Cuthbert
Notes to Editors
About Servier
Servier is a non-listed international pharmaceutical company
headquartered in France. With a strong international presence in
148 countries and a turnover of 3.9 billion euro in 2015, Servier
employs over 21 200 people worldwide. Corporate growth is driven by
Servier's constant search for innovation in five areas of
excellence: cardiology, oncology, metabolism, neuropsychiatry and
rheumatology. Thanks to its governance placed in a non-profit
Foundation, the Group reinvests 25% of Servier's products turnover
in Research and Development, and all its profits in its growth.
Becoming a key player in oncology is part of Servier's long-term
strategy. Currently, there are nine new molecular entities in
clinical development in this area, targeting breast and lung
cancers and other solid tumors, as well as various leukemias and
lymphomas. This portfolio of innovative cancer treatments is being
developed with partners worldwide, and covers different cancer
hallmarks, including cytotoxics, proapoptotics, targeted, immune
and cellular therapies.
More information is available at: www.servier.com
About Vernalis
Vernalis is a revenue generating, commercial stage
pharmaceutical company with significant expertise in drug
development. The Group has three approved products: Tuzistra(R) XR
targeting the US prescription cough-cold market; Moxatag(R) , a
once-a-day formulation of the antibiotic, amoxicillin, indicated
for the treatment of tonsillitis and/or pharyngitis secondary to
Streptococcus pyogenes in adults and pediatric patients 12 years
and older; and frovatriptan for the acute treatment of migraine. It
has 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 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 Asahi Kasei Pharma, Biogen Idec, Endo, GSK,
Genentech, Lundbeck, Menarini, Novartis, Servier, Taisho, 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 NCE pipeline, the
Company's ability to successfully commercialise its cough-cold
products and Moxatag(R) through its own sales force, 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 Tuzistra(R) XR, Moxatag(R) ,
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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