Vernalis PLC Regulatory News (VER)

3 Sep 2007 07:00

Vernalis PLC03 September 2007 Vernalis receives milestone payment in Hsp90 inhibitor collaboration 3 September 2007 WINNERSH, U.K., 3 September 2007 -- Vernalis plc (LSE: VER) today announced theachievement of a milestone under the company's joint research and developmentcollaboration with Novartis on the oncology target Hsp90. The milestone paymentof $1.5 million was triggered by the start of Phase I clinical trials of aVernalis compound in a range of solid tumours and liquid cancers. Simon Sturge, CEO of Vernalis said "We are delighted that our programme withNovartis has progressed to the next stage with the first compound from thecollaboration entering human testing. Inhibition of Hsp90 is receivingincreasing attention in the fight against cancer and our collaboration withNovartis continues to deliver exciting new treatment opportunities." The Vernalis Hsp90 programme is the result of a collaboration established inMarch 2002 with Cancer Research Technology Ltd (CRT) - formerly Cancer ResearchVentures Ltd - and The Institute of Cancer Research (The Institute), building onstudies funded by The Institute, Cancer Research UK and Wellcome Trust. Underthe agreement Vernalis will pay CRT and The Institute a proportion of itsrevenues from the agreement 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 McIlroyAlex Tweed Lazar Partners LtdGregory Gin +1 212-867-1762 Notes to Editors About Hsp90Inhibition of Hsp90 is believed to have significant potential in the treatmentof a broad range of cancers. The scientific rationale for Hsp90 as a therapeuticcancer target is based on the hypothesis that many of the signalling proteinsthat behave aberrantly in cancer cells require Hsp90 as a chaperone molecule toensure that they are maintained in an active form. In addition, many of theproteins stabilised by Hsp90 are oncoproteins and cell-signalling proteinsimportant in cancer cell proliferation and cancer cell survival. Thus Hsp90, asingle molecular target that is a central integrator of multiple pathwaysimportant to cancer, is an ideal novel target for oncologic therapy. About VernalisVernalis 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 |Parkinson's| | | | | x |North ||(R) |Disease | | | | | |America || | | | | | | | |+-------+-----------+-----+-----+-----+------------+------+------------+|Frova |Migraine | | | | | x |US ||(R) | | | | | | |milestones &|| | | | | | | |royalties - || | | | | | | |Endo || | | | | | | |(EU - || | | | | | | |royalties) |+-------+-----------+-----+-----+-----+------------+------+------------+|Frova |Menstrual | | | | x | |US ||(R) |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 |+-------+-----------+-----+-----+-----+------------+------+------------+|Hsp90 |Oncology | x | | | | |None - || | | | | | | |royalty || | | | | | | |(Novartis) |+-------+-----------+-----+-----+-----+------------+------+------------+ Vernalis has significant product development milestones during 2007 Frova(R) MM PDUFA dateV10153 Phase IIa dataV24343 Phase I dataV1512 Start Phase III Vernalis' Structure Based Discovery CapabilitiesVernalis 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 StatementThis 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. Cancer Research TechnologyCancer Research Technology Limited (CRT) is a specialist commercialisation anddevelopment company, which aims to develop new discoveries in cancer researchfor the benefit of cancer patients. CRT works closely with leading internationalcancer scientists and their institutes to protect intellectual property arisingfrom their research and to establish links with commercial partners. CRTfacilitates the discovery, development and marketing of new cancer therapeutics,vaccines, diagnostics and enabling technologies. CRT is wholly owned by CancerResearch UK, the largest independent funder of cancer research in the world.Further information about CRT can be found at www.cancertechnology.com This information is provided by RNS The company news service from the London Stock Exchange