WINNERSH, England, Nov. 20 /PRNewswire-FirstCall/ -- Vernalis plc (LSE:VERLSE:Nasdaq:LSE:VNLS), a specialty bio-pharmaceutical and drug development company, today announced that Novartis has selected a second compound as a preclinical development candidate under the joint research and development collaboration on the oncology target Heat shock protein 90 (Hsp90). This second candidate, an oral follow on to an intra-venous (IV) compound, was discovered using Vernalis' fragment based drug discovery platform. Under the terms of the collaboration, Novartis will make a milestone payment of $1.5 million to Vernalis. "Inhibition of Hsp90 is receiving increasing attention as a novel anticancer treatment with broad therapeutic potential for the treatment of patients with both solid tumors and haematologic cancers," said Simon Sturge, CEO of Vernalis. "Our collaboration with Novartis, a world leader in oncology, continues to deliver exciting new cancer treatment opportunities." Enquiries: Vernalis plc +44 (0) 118 977 3133 Simon Sturge, Chief Executive Officer Tony Weir, Chief Financial Officer Julia Wilson, Head of Corporate Communications Brunswick Group +44 (0) 20 7404 5959 Jon Coles Justine McIlroy Lazar Partners Ltd Gregory Gin 212-867-1762 Notes to Editors Background to Vernalis' Hsp90 Programme The Vernalis Hsp90 programme is the result of a collaboration established in March 2002 with Cancer Research Technology Ltd (CRT) -- formerly Cancer Research Ventures Ltd -- and The Institute of Cancer Research (The Institute), building on studies funded by The Institute, Cancer Research UK and Wellcome Trust. Under the agreement Vernalis will pay CRT and The Institute a proportion of its revenues from the agreement with Novartis. About Hsp90 Inhibition of Hsp90 is believed to have significant potential in the treatment of a broad range of cancers. The scientific rationale for Hsp90 as a therapeutic cancer target is based on the hypothesis that many of the signalling proteins that behave aberrantly in cancer cells require Hsp90 as a chaperone molecule to ensure that they are maintained in an active form. In addition, many of the proteins stabilised by Hsp90 are oncoproteins and cell-signalling proteins important in cancer cell proliferation and cancer cell survival. Thus Hsp90, a single molecular target that is a central integrator of multiple pathways important to cancer, is an ideal novel target for oncologic therapy. About Vernalis Vernalis is a speciality bio-pharmaceutical company focused on products marketed to specialist neurologists. The company has two marketed products, Frova(R) and Apokyn(R), and a development pipeline focused on neurology and central nervous system disorders. The company has seven products in clinical development and collaborations with leading, global pharmaceutical companies including Novartis, Biogen Idec and Serono. Vernalis has established a US commercial operation to promote Apokyn(R) and co-promote Frova(R) alongside its North American licensing partner, Endo Pharmaceuticals, progressing the company towards its goal of becoming a sustainable, self-funding, R&D-driven, speciality bio-pharmaceutical company. For further information about Vernalis, please visit: http://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 and including that of Frova(R) for menstrual migraine, the Company's ability to find partners for the development and commercialisation of its products, the benefits of re-acquiring Frova(R) in North America and the partnership with Endo on the Company's liquidity and results of operations, 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, including with respect to Frova(R) and the Company's other products, 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 Frova(R) and other products, as well as the achievement of expected synergies from such transactions, the acceptance of Frova(R) 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. DATASOURCE: Vernalis plc CONTACT: Simon Sturge, Chief Executive Officer, or Tony Weir, Chief Financial Officer, or Julia Wilson, Head of Corporate Communications, all of Vernalis plc, +44-0-118-977-3133; or Jon Coles or Justine McIlroy, both of Brunswick Group, +44-0-20-7404-5959; or Gregory Gin of Lazar Partners Ltd, +1-212-867-1762, all for Vernalis plc Web site: http://www.vernalis.com/

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