Vernalis PLC Regulatory News (VER)

22 Oct 2008 07:00



22 October 2008

Vernalis Bolsters Pipeline with Phase II -Ready Anti-Inflammatory Drug Candidate

Winnersh, UK, 22 October 2008, Vernalis plc (LSE: VER) today announces that, following the merger of Merck KGA and Serono, it has regained all rights to a portfolio of compounds targeting the treatment of inflammatory disease. These compounds were originally part of a Licence, Development and Commercialization agreement between Vernalis and Serono.

The lead compound, V85546 (previously AS111793), is a selective MMP-12 inhibitor, has successfully completed Phase I clinical testing and is ready to start a Phase II programme. The compound is returned to Vernalis with a full data package, which includes extensive supporting pharmacology data for a broad range of indications, and is supported by an extensive back up programme that includes a product candidate undergoing pre-clinical development. V85546 could be developed for the treatment of several inflammatory diseases including including Chronic Obstructive Pulmonary Disease (COPD), Acute Respiratory Distress Syndrome (ARDS) and Multiple Sclerosis (MS).

Vernalis is determining the optimal Phase II development programme and intends to conduct further development of V85546 under a new collaborative agreement.

Peter Fellner, Vernalis' Executive Chairman, comments:

"V85546 adds a Phase II-ready product candidate with an impressive and extensive data package to Vernalis' development pipeline. It has potential in a range of poorly treated conditions and is an exciting new opportunity to deliver value for the Company". 

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About Vernalis

Vernalis is a pharmaceutical company with one marketed product, Frova®, and six products in clinical development and collaborations with leading, global pharmaceutical companies including Novartis, Biogen Idec, Endo, Menarini and Chiesi:

For further information about Vernalis, please visit www.vernalis.com.

Forward-Looking Statement

This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of Frova® and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.