21 Dec 2015 07:00
21 December 2015
LSE: VER
Vernalis Announces Successful Completion of CCP-07 Pivotal
Single-Dose Comparative Bioavailability Study
FDA NDA filing remains on track for 2016
Vernalis plc ("Vernalis" or the "Company") today announces successful completion of the CCP-07 Pivotal Single-Dose comparative bioavailability study.
CCP-07 is the second product being developed for Vernalis by Tris Pharma Inc ("Tris") for the US prescription cough cold market. The first product, Tuzistra®XR was approved by the FDA in April 2015 and was launched by Vernalis in September 2015, through a dedicated sales force.
CCP-07 will now move into a multiple-dose comparative bioavailability study and continues in 12-month stability studies. Subject to the successful outcome of these studies, filing of the NDA for CCP-07 with the FDA remains on track for 2016.
Under the licensing and development collaboration announced on 10 February 2012, Vernalis is paying Tris to develop up to six unique extended-release equivalents to existing immediate-release prescription cough cold treatments.
Ian Garland, CEO of Vernalis commented "We are delighted with the continued progress of CCP-07 which further demonstrates the low-development risk of our cough cold pipeline in development with Tris, and we look forward to further news flow from these programmes, over the coming months".
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Enquiries:
Vernalis plc: | +44 (0) 118 938 0015 |
Ian Garland, Chief Executive Officer | |
David Mackney, Chief Financial Officer
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Canaccord Genuity Limited (Nominated Adviser): | +44 (0) 20 7523 8350 |
Dr Julian Feneley | |
Henry Fitzgerald-O'Connor | |
Emma Gabriel
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Shore Capital (Joint Broker): | +44 (0)20 7408 4090 |
Bidhi Bhoma | |
Toby Gibbs
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FTI Consulting: | +44 (0) 20 3727 1000 |
Ben Atwell | |
Simon Conway | |
Stephanie Cuthbert
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Notes to Editors
About Vernalis
Vernalis is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra®XR targeting the US prescription cough cold market; MOXATAG®, a once-a-day formulation of the antibiotic, amoxicillin, indicated for the treatment of tonsillitis and/or pharyngitis secondary to Streptococcus pyogenes; and frovatriptan for the acute treatment of migraine. It has an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough cold market as well as eight programmes in its NCE development pipeline. Vernalis has also significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products have been endorsed over the last five years by collaborations with leading pharmaceutical companies, including AKP, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier Taisho and Tris.
For further information about Vernalis, please visit www.vernalis.com.
Vernalis 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 frovatriptan 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.