SOURCE: Vernalis PLC

March 27, 2014 03:00 ET

Vernalis and Asahi Kasei Pharma Achieve Milestone

WINNERSH, UK--(Marketwired - Mar 27, 2014) -


27 March 2014

LSE: VER



      Vernalis and Asahi Kasei Pharma Achieve Research Milestone

Vernalis is pleased to announce the achievement of the first milestone
in its research collaboration with Asahi Kasei Pharma (AKP). Vernalis
will receive a payment of GBP0.3m in recognition of this achievement.

This drug discovery collaboration, initiated in October 2013, utilises
Vernalis' fragment and structure-based drug discovery platform against
an undisclosed target for rheumatoid arthritis and other autoimmune
diseases. As previously announced, the overall financial terms of the
collaboration have not been disclosed.

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Enquiries:

Vernalis plc:
Ian Garland, Chief Executive Officer           +44 (0) 118 938 0015
David Mackney, Chief Financial Officer

Canaccord Genuity Limited (Nominated Adviser): +44 (0) 20 7523 8350
Lucy Tilley
Dr Julian Feneley
Henry Fitzgerald-O'Connor

Shore Capital (Joint Broker):                  +44 (0)20 7408 4090
Bidhi Bhoma
Toby Gibbs

Brunswick Group:                               +44 (0) 20 7404 5959
Jon Coles

Notes to Editors

About Vernalis

Vernalis is a revenue generating development stage pharmaceutical
company with significant expertise in drug development. The Group has
one marketed product, frovatriptan for the acute treatment of migraine,
an exclusive licensing agreement to develop and commercialise multiple
novel products focussed on the US prescription cough cold market as
well as seven 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 AKP, Biogen Idec,
Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier 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 products, 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 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.







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