Vernalis PLC Vernalis and Servier Achieve Research Milestone (4885Y)
06 December 2017 - 6:00PM
UK Regulatory
TIDMVER
RNS Number : 4885Y
Vernalis PLC
06 December 2017
6 December 2017
LSE: VER
Vernalis and Servier Achieve Research Milestone
in Third Oncology Collaboration
Vernalis plc and Servier today announce the achievement of a
pre-clinical milestone in their third oncology drug discovery
collaboration. Vernalis will receive a payment of EUR1.0m from
Servier in recognition of this achievement.
This third collaboration with Servier was initiated in January
2012 and utilises Vernalis' proprietary fragment- and
structure-based drug discovery platform. Vernalis receives fees and
a share in the future success of the product in the form of
milestones and royalties on sales. Financial terms are not
disclosed.
Ian Garland, CEO of Vernalis commented: "We are delighted by the
continuing success of our multiple collaborations with Servier and
look forward to further success from this relationship."
"This new milestone testifies the valuable collaboration between
Vernalis and Servier", said Olivier Geneste, head of research in
Oncology at Servier.
-- ends --
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.
Enquiries
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
Mark Percy
Toby Gibbs
FTI Consulting: +44 (0) 20 3727 1000
Ben Atwell
Simon Conway
Stephanie Cuthbert
Servier
Sonia Marques
Servier Media Relations Dpt.
Tel: +33 1 5572 4021
Email: media@servier.com
Notes to Editors
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.
About Servier
Servier is an international pharmaceutical company governed by a
non-profit foundation, with its headquarters in France (Suresnes).
With a strong international presence in 148 countries and a
turnover of 4 billion euros in 2016, Servier employs 21,000 people
worldwide. Entirely independent, the Group reinvests 25% of its
turnover (excluding generic drugs) in research and development and
uses all its profits for development. Corporate growth is driven by
Servier's constant search for innovation in five areas of
excellence: cardiovascular, immune-inflammatory and
neuropsychiatric diseases, cancers and diabetes, as well as by its
activities in high-quality generic drugs.
More information: www.servier.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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