WINNERSH, UNITED KINGDOM--(Marketwired - Jul 19, 2016) - Vernalis PLC (LSE: VER) (OTC PINK: VNLPY)
19 July 2016
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 EUR 500K 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.
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Notes to Editors
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
Vernalis is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra® XR targeting the US prescription cough-cold market; Moxatag®, 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® 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® XR, Moxatag®, 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
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