Vernalis PLC Regulatory News (VER)

17 May 2007 07:01

Vernalis PLC17 May 2007 17 May 2007 Vernalis Plc and Servier Research Group Enter Into Drug Discovery Collaboration - Further Endorsing Vernalis' Structure Based Drug Design Platform - WINNERSH, U.K., and NEUILLY sur SEINE, France, 17 May 2007 -- Vernalis plc (LSE:VER, Nasdaq: VNLS) and Servier, France's largest privately-owned pharmaceuticalcompany, today announced that they entered into a joint, three-year, oncologydrug discovery collaboration. "Cancers represent a major cause of mortality worldwide and Servier is committedto provide patients with novel therapeutic approaches for treating thesedevastating pathologies. We are confident that the collaboration with Vernaliswill efficiently complement our research activities and help us in reaching ourobjectives" said Laurent Perret, MD, PhD, President Servier Research andDevelopment. "The partnership with Vernalis is a major step in our strategy to increase ourefforts in the development of novel anti-cancer therapeutic approaches. Thiscollaboration will expedite the discovery of innovative compounds with potentialuse in therapeutic indications with high unmet medical need" added EmmanuelCanet, MD, PhD, Vice President Servier Research and Development. Under the terms of the collaboration which utilises Vernalis' proprietary drugdiscovery platform on this undisclosed target, Vernalis will receive an upfrontpayment and a share in the downstream success of the product, terms of which arenot disclosed. Simon Sturge, CEO of Vernalis, commented "The collaboration with Servier is an important step for Vernalis and furthervalidates our fragment-based drug discovery platform. This platform is currentlybeing used to progress a number of our research programmes. This collaborationwith Servier follows on from a recent announcement that another of our partners,Novartis, has selected a second Hsp90 compound, also discovered using ourinnovative platform, as a preclinical development candidate. We are delighted toannounce this relationship with Servier and look forward to working with them todevelop exciting new cancer treatment opportunities." There will be significant newsflow in the coming months for Vernalis, withexpected progress to include: • Frova(R): Menstrual Migraine PDUFA date -19 August 2007 • V10153: Data from Phase IIa - Novel long-acting thrombolytic for acute ischaemic stroke • V3381: Data from Phase II - Dual NMDA antagonist and MAO-A inhibitor for neuropathic pain • V24343: Data from Phase I - CB1 antagonist for obesity • Hsp90: Start of Phase I - Novel oncology treatment in Cancer (partnered with Novartis) - ends - Enquiries:Vernalis plc +44 (0) 118 977 3133Simon Sturge, Chief Executive OfficerTony Weir, Chief Financial Officer Brunswick Group +44 (0) 20 7404 5959Jon ColesJustine McIlroy Lazar Partners LtdGregory Gin 212-867-1762 ServierDirection de la Communication +33 (1) 55 72 77 77 Notes to Editors About Servier Servier is the leading independent French pharmaceutical company, established in1954 by its founder, Jacques Servier, M.D., Pharm.D. The group is established in140 countries and 82% of Servier products are prescribed out of France. Salesturnover in 2006 rose to 3.3 billion euros. Almost 25% of Servier's turnover isinvested in Research and Development. The Servier Group counts 19 InternationalsCenters of Therapeutic Research, and its principal therapeutic researchorientations are cardiovascular diseases, diabetes, neuropsychiatric disorders,cancer, and osteoarticular diseases. More information is available at:www.servier.com. About Vernalis Vernalis is a speciality bio-pharmaceutical company focused on products marketedto specialist neurologists. The company has two marketed products, Frova(R) andApokyn(R), and a development pipeline focused on neurology and central nervoussystem disorders. The company has eight products in clinical development andcollaborations with leading, global pharmaceutical companies including Novartis,Biogen Idec and Serono. Vernalis has established a US commercial operation topromote Apokyn(R) and co-promote Frova(R) alongside its North American licensingpartner, Endo Pharmaceuticals, progressing the company towards its goal ofbecoming a sustainable, self-funding, R&D-driven, speciality bio-pharmaceuticalcompany. For further information about Vernalis, please visit: www.vernalis.com ______________________________________________________________________________Product Indication Phase Phase Phase Marketing Rights I II III Registration Market______________________________________________________________________________Apokyn(R) Parkinson's x North Disease America______________________________________________________________________________Frova(R) Migraine x US milestones & royalties - Endo (EU - royalties)______________________________________________________________________________Frova(R) Menstrual x US Migraine milestones & Prevention royalties - Endo (EU - royalties)______________________________________________________________________________V1512 Parkinson's x World Wide Disease (excl. Italy)______________________________________________________________________________V10153 Ischaemic x World Wide stroke______________________________________________________________________________V1003 Acute Pain x US Profit share Option Reckitt Benckiser______________________________________________________________________________V3381 Neuropathic x World Wide Pain______________________________________________________________________________V2006 Parkinson's x US Disease Co-promotion Biogen Idec______________________________________________________________________________MMPI Multiple x None - Sclerosis royalty (Serono)______________________________________________________________________________V24343 Obesity x World Wide______________________________________________________________________________ Vernalis' Structure Based Discovery Capabilities Vernalis has a strong research capability focussed on the discovery of drugdevelopment candidates to treat diseases of the central nervous system (CNS) andcancer. The company uses and develops structure-based drug discovery methodsfor its programmes in order to increase the quality and discovery rate of drugcandidate compounds. The Company's approach is to generate as much 3 dimensionalprotein-molecule structural information as possible in the hit identificationphase using virtual screening, a distinctive fragment (small parts of molecules)based discovery process, and molecular modeling. In turn, this structuralinformation is used to design novel hit compounds, often combining keyinteraction features from a number of fragments and compounds together. Thesehits are then optimised using structure-guided medicinal chemistry. Drugcandidate compounds emerging from this discovery process in both therapeuticareas are regularly reviewed and considered for partnering or internaldevelopment. Vernalis Forward-Looking Statement This news release may contain forward-looking statements that reflect theCompany's current expectations regarding future events including the clinicaldevelopment and regulatory clearance of the Company's products, the Company'sability to find partners for the development and commercialisation of itsproducts, as well as the Company's future capital raising activities.Forward-looking statements involve risks and uncertainties. Actual events coulddiffer materially from those projected herein and depend on a number of factorsincluding the success of the Company's research strategies, the applicability ofthe discoveries made therein, the successful and timely completion of clinicalstudies, the uncertainties related to the regulatory process, the ability of theCompany to identify and agree beneficial terms with suitable partners for thecommercialisation and/or development of its products, as well as the achievementof expected synergies from such transactions, the acceptance of Frova(R) andApokyn(R) and other products by consumers and medical professionals, thesuccessful integration of completed mergers and acquisitions and achievement ofexpected synergies from such transactions, and the ability of the Company toidentify and consummate suitable strategic and business combinationtransactions. This information is provided by RNS The company news service from the London Stock Exchange