Vernalis PLC Regulatory News (VER)

19 Jan 2005 07:00

Vernalis PLC19 January 2005 19 January 2005 Vernalis Plc: Anti-Inflammatory Compound Partnered with Serono Starts Clinical Trials Vernalis plc (LSE:VER, Nasdaq: VNLS), today announced that its partner Serono(virt-x: SEO and NYSE: SRA) has started a phase I clinical trial of a selectiveinhibitor of MMP-12 (matrix metalloprotease inhibitor-12). This is the firstcompound to enter the clinic resulting from the research collaboration betweenVernalis and Serono that was established to find potential treatments forinflammatory diseases. Under the terms of the agreement Vernalis will receivean undisclosed milestone payment. The phase I trial will be performed in healthy volunteers. Its primaryobjectives are to elucidate the safety, tolerability and pharmacokineticproperties of the compound. Serono will conduct and fund all developmentactivities associated with the programme. Simon Sturge, chief executive officer of Vernalis said, "We are delighted thatour partner Serono has progressed this compound into phase I trials, whichendorses Vernalis' scientific expertise and further expands the Company'sportfolio of products in the clinic." Enquiries: Vernalis plcSimon Sturge, Chief Executive OfficerTony Weir, Chief Financial OfficerJulia Wilson, Head of Corporate Communications+44 (0)118 989 9315 Brunswick GroupJon ColesWendel Verbeek+44 (0)20 7404 5959 Safe Harbour statement: this news release may contain forward-looking statementsthat reflect the Company's current expectations regarding future events.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 successfulintegration of completed mergers and acquisitions and achievement of expectedsynergies from such transactions, and the ability of the Company to identify andconsummate suitable strategic and business combination transactions. About Vernalis Vernalis is a new force in UK biotechnology, with a strong cash position andsignificant growth potential through a combination of sales of its marketedproduct frovatriptan, the successful development and commercialisation of itsproduct pipeline candidates, and through further participation in theconsolidation of the biotechnology sector. Frovatriptan is approved in the US and in 15 European countries for the acutetreatment of migraine and is in Phase III trials as a short term oralprophylactic for menstrually-related migraine, a condition thought to affectover half of all women who suffer from migraine. Vernalis has a North Americanlicense agreement and co-promotion option for frovatriptan (FrovaTM in the US)with Endo Pharmaceuticals. Vernalis's range of clinical and pre-clinical development programmes include anagreement for the development and commercialisation of its treatment forParkinson's disease with Biogen Idec and a cancer research collaboration withNovartis. This pipeline is supplied by research programmes exploiting Vernalis'distinctive structure based drug discovery and CNS biology capabilities, andalso investigating the potential of a variety of novel molecules and targets inthe fields of oncology and neurology. For further information about Vernalis,please visit www.vernalis.com. This information is provided by RNS The company news service from the London Stock Exchange