SOURCE: Vernalis PLC

January 21, 2015 06:23 ET

Vernalis PLC: Change of Non-Executive Director

WINNERSH, UNITED KINGDOM--(Marketwired - Jan 21, 2015) - Vernalis PLC (LSE: VER) (OTC PINK: VNLPY)

Change of Non-Executive Director

Vernalis plc today announces the resignation of Dr Allan Baxter, non-executive director, with immediate effect due to his health.

Dr Peter Fellner, Chairman commented "The Board and I would like to thank Allan for his considerable contribution as a key member of the Board over the past 11 years. We are grateful for the commitment and guidance he has provided during that time".

The Board will immediately commence the process to recruit an independent non-executive director to succeed Dr Baxter.

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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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