VRP.L Share News (VRP)

Verona Pharma said the first group of volunteers have been dosed with its new nebulised formulation of its RPL554 product as part of a Phase I/II clinical trial, which analysts said was a significant step.The AIM company said the study's main objective was to confirm the safety, tolerability and bronchodilation of the drug, adding it was initially developing the product as a treatment for acute exacerbations in patients with chronic obstructive pulmonary disease (COPD), with it also a possible asthma treatment."We believe that this new proprietary formulation for nebulised RPL554 will allow us to develop optimally and commercialise this unique drug as an effective treatment for acute exacerbations in chronic obstructive pulmonary disease," said group chief executive Jans-Anders Karlsson in a statement.The group said some 120 people will be recruited for the study, with results expected to be made available in the second six months of the year.Broker N+1 Singer said the move was an "extremely positive step in Verona Pharma's development"."RPL554 has produced positive data to date, including synergistic effects with current standard therapy. There is also a potential Cystic Fibrosis indication for RPL554, offering a very attractive market opportunity for the group in a recognised Orphan disease. We believe RPL554 could generate very attractive returns to shareholders."Verona shares rose 0.83% to 1.21p at 12:03 on Monday.