LONDON (Alliance News) - Shares in Verona Pharma PLC were trading up 19% Monday morning after it announced that new data supports the use of its lead molecule, RPL554, for the treatment of cystic fibrosis.
RPL554 is presently in Phase 2 clinical development for acute chronic obstructive pulmonary disease, but Verona said that data it will present at the 28th Annual North American Cystic Fibrosis Conference in October show it may also be a treatment for cystic fibrosis.
Verona will present data showing the ability of the drug to activate an ion channel in cells lining the airways that are defective in patients with cystic fibrosis.
It is preparing the full results for publication by the end of 2014 in a scientific journal.
Verona will now further evaluate the potential of the treatment for cystic fibrosis, which is an orphan disease for which there is currently no cure.
The company said that whilst it is initially focused on chronic obstructive pulmonary disease, it is also building a broader franchise around the drug to "maximise its value, both to patients and to investors."
"We are therefore exploring the potential of the drug in different diseases as well as in the multi-blockbuster markets for COPD and asthma maintenance therapy," said Chief Executive Jan-Anders Karlsson in a statement.
Shares in Verona were trading up 19% at 1.30 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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