SOURCE: Vernalis PLC

December 21, 2016 02:00 ET

Vernalis PLC: FDA accepts CCP-08 NDA for full review

WINNERSH, UNITED KINGDOM--(Marketwired - Dec 21, 2016) - Vernalis PLC (LSE: VER); (OTC PINK: VNLPY)

LSE: VER

21 December 2016

FDA accepts CCP-08 NDA for full review 
PDUFA date of 4 August 2017

Vernalis plc and Tris Pharma, Inc. ("Tris") are pleased to announce that the U.S. Food and Drug Administration ("FDA") has accepted the CCP-08 New Drug Application ("NDA") for full review. This triggers a milestone payment from Vernalis to Tris.

The FDA has set a Prescription Drug User Fee Act ("PDUFA") target date for conclusion of its review of 4 August 2017.

Under the exclusive licensing and collaboration agreement announced in February 2012, Tris is developing up to six unique extended-release equivalents to existing immediate-release prescription cough cold treatments for the US market.

CCP-08 is the third product from this pipeline to be accepted for full NDA review. The first product, Tuzistra® XR, was approved by the FDA in April 2015 and was launched by Vernalis in September 2015 by a dedicated sales force. The second product, CCP-07, was accepted for full review by FDA in September 2016 and has a PDUFA date of 20 April 2017.

Ian Garland, CEO of Vernalis, commented "Today's announcement confirms that both CCP-07 and CCP-08 are on-track for potential launch in the 2017-18 cough cold season, which will further leverage our existing sales force and accelerate our transition to a profitable specialty pharmaceutical business."

Ketan Mehta, CEO of Tris, commented, "With this third NDA accepted for Vernalis, we are well positioned to achieve our collective goal of offering patients a portfolio of long acting liquid prescription medication to provide all day, and all night, cough cold relief."

This announcement contains inside information.

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Enquiries:

     
Vernalis plc:   +44 (0) 118 938 0015
Ian Garland, Chief Executive Officer    
David Mackney, Chief Financial Officer    
Tris Pharma, Inc:
Peter Ciano, Acting CFO & SVP Corporate Development
  +1 732 823 4950
Canaccord Genuity Limited (Nominated Adviser):   +44 (0) 20 7523 8000
Rupert Winckler    
Henry Fitzgerald-O'Connor    
Emma Gabriel    
Shore Capital (Joint Broker):   +44 (0)20 7408 4090
Bidhi Bhoma    
Toby Gibbs    
FTI Consulting:   +44 (0) 20 3727 1000
Ben Atwell    
Simon Conway    
Stephanie Cuthbert    

Notes to Editors

About Tris Pharma, Inc.
Tris Pharma, Inc. is a specialty pharmaceutical company focused on the research and development of technologies-driven products. Tris has pioneered the delivery of sustained release in the liquid, chewable/ODT and strip dosage forms so patients do not have to swallow a pill. Tris' Nobuse™ technology provides abuse deterrence for opioids and other abuse-prone drugs. Tris' R&D and manufacturing facilities are located in Monmouth Junction, New Jersey, U.S.A.

For more information, please visit www.trispharma.com.

About Vernalis plc
Vernalis plc is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra® XR targeting the U.S. prescription cough cold market; Moxatag®, a once-daily 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
The company news service from the London Stock Exchange

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