16 Aug 2018 07:00
16 August 2018
LSE: VER
Vernalis plc ("Vernalis" or the "Company")
Board Change
Vernalis plc today announces that Dr Ian Gilham has decided to step down from his role as a Non-Executive Director and Chair of the Remuneration Committee of Vernalis plc with immediate effect rather than continue on the Board until completion of the proposed acquisition of Vernalis plc by Ligand Holdings UK Ltd.
Carol Ferguson, who is a member of the Remuneration Committee, will take the role as Chair of that Committee.
Dr Peter Fellner, Chairman of the Board of Vernalis commented "We would like to thank Ian for his contributions to the Board over the last three years and the Board wishes him well in his future endeavours."
Enquiries:
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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 and Broker): | +44 (0) 20 7523 8000 |
Henry Fitzgerald-O'Connor Emma Gabriel
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Evercore (Financial Adviser): | +44 (0) 20 7653 6000 |
Julian Oakley Alan Beirne
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Notes to Editors
Vernalis is a revenue generating, pharmaceutical company with significant expertise in drug development. The Group has two approved products: Moxatag®, a once-daily formulation of the antibiotic, amoxicillin, indicated for the treatment of tonsillitis and/or pharyngitis secondary to Streptococcus pyogenes in adults and pediatric patients 12 years and older; and frovatriptan for the acute treatment of migraine. Vernalis has also nine programmes in its NCE development pipeline in addition to 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 Asahi Kasei Pharma, Biogen Idec, Daiichi Sankyo, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis and Servier.
For further information about Vernalis, please visit www.vernalis.com
Rule 26.1 disclosures
A copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on Vernalis' website at www.vernalis.com by no later than 12 noon (London time) on the business day following the release of this announcement in accordance with Rule 26.1 of the City Code on Takeovers and Mergers. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.