VRP.L Share News (VRP)

LONDON (Dow Jones)--Verona Pharma PLC (VRP.LN), an AIM quoted drug discovery company, said Monday licensing discussions continue to advance with potential licensees for its RPL554 cough project and it plans three clinical trials to add value to licensing package for RPL554. MAIN FACTS: -Has signed a letter of intent, or LOI, to look at the safety, the duration of action with respect to bronchidilation, and the extent of anti-inflammatory action of RPL554 at higher doses in two asthmatic patient trials -Second LOI signed to test the bronchodilator effects and safety of the drug in patients with established chronic obstructive pulmonary disease, or COPD. -Carrying out experimental trials designed to facilitate the administration of RPL554 in inhaler devices commonly used by asthmatics and COPD patients Cough -Regulatory documents for the proposed clinical trial of VRP700 in cough patients submitted to the ethics committee at the University of Florence and approval to proceed with the trial is expected within the next few months -It is anticipated that the trial will be completed by the end of the year - dependant on patient recruitment and the effectiveness of VRP700's anti-cough actions -Shares closed Friday at 7.38 pence valuing the company at GBP17.61 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires June 28, 2010 02:33 ET (06:33 GMT)