TIDMVER
RNS Number : 3244D
Vernalis PLC
26 April 2017
Servier and Vernalis plc announce achievement
of 3 milestones in their oncology drug discovery
collaboration
Two research milestones and one clinical milestone,
triggering
a total payment of EUR2 million to Vernalis
26 April 2017 - Servier and Vernalis plc are pleased to announce
the achievement of two research milestones and one clinical
milestone in their oncology drug discovery collaboration,
triggering a total payment of EUR2 million to Vernalis.
Vernalis and Servier's partnership has been successfully running
for ten years. Their collaboration takes advantage of Vernalis'
proprietary fragment and structure-based drug discovery platform,
and of Servier's expertise in medicinal chemistry, cancer biology
and pharmacology to bring innovation in oncology one step
further.
The collaboration focuses on complicated molecular targets, some
of which, like Mcl1, were considered as undruggable until recently.
The clinical milestone announced today corresponds to the first
treatment of the first patient in a Servier sponsored trial with a
selective Mcl1 inhibitor identified through the oncology drug
discovery collaboration between Servier and Vernalis. The discovery
and characterization of this family of Mcl1 inhibitors were
recently published in Nature(1) . The worldwide clinical
development of this promising drug candidate is being undertaken by
Servier in collaboration with Novartis.
The two research milestones relate to success in early drug
discovery against Mcl1 and a challenging, promising but undisclosed
target.
"These research and clinical milestones are the result of highly
interactive joint efforts between chemists, biochemists and
biologists from both companies and hopefully will lead to new
treatments for cancer patients," Olivier Geneste, head of research
in Oncology at Servier commented. "They illustrate well the
innovative freedom that Servier has kept through its important
investment in R&D."
"These milestones further validate our fragment-based drug
discovery platform as well as the strength and success of our
relationship with Servier. We look forward to working together to
develop exciting new cancer treatment opportunities to add to the
already disclosed success in targeting Bcl-2 and Mcl-1", commented
Ian Garland, CEO of Vernalis.
Under the current agreement, Vernalis receives fees for work
undertaken as well as research and development milestones and
potentially royalties on sales.
_________________________________
(1) Kotschy at al., 538, 477-482, 2016
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement this inside information is now considered to be in the
public domain.
About Servier
Servier is an international pharmaceutical company governed by a
non- profit foundation with its headquarters in Suresnes (France).
With a strong international presence in 148 countries and a
turnover of 4 billion euros in 2016, Servier employs 21 000 people
worldwide. Corporate growth is driven by Servier's constant search
for innovation in five areas of excellence: cardiovascular
diseases, diabetes, cancers, immune-inflammatory diseases, and
neurodegenerative diseases, as well as by its activities in
high-quality generic drugs. Being completely independent, the Group
reinvests 25% of turnover (excluding generics) in research and
development and uses all its profits for 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: 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-daily 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 focused 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, and Tris.
For further information about Vernalis, please visit
www.vernalis.com
Enquiries
Servier
Karine Bousseau
Servier External Communications
Tel: +33 1 5572 6037
Email: media@servier.com
Vernalis plc: +44 (0) 118 938 0015
Ian Garland, Chief Executive Officer
David Mackney, Chief Financial Officer
Canaccord Genuity Limited (Nominated
Adviser and Joint Broker): +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor
Emma Gabriel
Shore Capital (Joint Broker): +44 (0) 20 7408 4090
Bidhi Bhoma
Toby Gibbs
FTI Consulting: +44 (0) 20 3727 1000
Ben Atwell
Simon Conway
Stephanie Cuthbert
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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