SOURCE: Vernalis PLC

April 07, 2015 02:00 ET

Vernalis plc Enters Into Research Collaboration With Taisho Pharmaceutical Co., Ltd

WINNERSH, UNITED KINGDOM--(Marketwired - Apr 7, 2015) - Vernalis PLC (LSE: VER); (PINKSHEETS: VNLPY)

7 April 2015
LSE: VER

Vernalis plc enters into research collaboration
with Taisho Pharmaceutical Co., Ltd

Vernalis plc (LSE: VER) announced today that it has entered into a drug discovery collaboration with Taisho Pharmaceutical Co., Ltd., utilizing Vernalis' fragment and structure-based drug discovery platform against an undisclosed target for the development of potential antibiotic agents.

The financial terms of this collaboration are not disclosed.

Ian Garland, CEO of Vernalis, commented: "We are delighted to be working with Taisho on this project. This is another excellent endorsement of our market leading fragment and structure-based drug discovery platform and we look forward to a successful collaboration with Taisho."

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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
Dr Julian Feneley    
Henry Fitzgerald-O'Connor    
Pippa Underwood    
     
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 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 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.

This information is provided by RNS
The company news service from the London Stock Exchange

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