VRP.L Regulatory News (VRP)

VERONA PHARMA PLC - Directorate Change

PR Newswire

London, January 10

Verona Pharma plc

("Verona Pharma" or the "Company")

Directorate Change

11 January 2016, Cardiff – Verona Pharma plc (AIM: VRP.L), the drug development company focused on first-in-class medicines to treat respiratory diseases, announces the resignation of Biresh Roy, Chief Financial Officer of the Company. He will step down from the Board with immediate effect but will remain with Verona Pharma for up to six months to allow time for a suitable successor to be appointed and for an orderly handover. The Board has commenced a search for his successor and a further announcement will be made in due course.

Dr. David Ebsworth, Chairman of Verona Pharma, said: “The Board would like to thank Biresh for his many contributions to the Company. This has been a particularly formative time for Verona Pharma as it has delivered on important operational and clinical goals it set at the time of the 2014 Financing in a timely manner. Importantly, Biresh’s financial stewardship has also ensured that these goals have been met on, or ahead of, budget. We warmly wish Biresh all the best in his future endeavours.”

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Notes to Editors

About Verona Pharma plc

Verona Pharma plc is a UK-based clinical stage biopharmaceutical company focused on the development of innovative prescription medicines to treat respiratory diseases with significant unmet medical needs, such as chronic obstructive pulmonary disease (COPD), asthma and cystic fibrosis. 

Verona Pharma's lead drug, RPL554, is a first-in-class drug currently in Phase II trials as a nebulised treatment for acute exacerbations of COPD in the hospital setting. The drug is a dual phosphodiesterase (PDE) 3/4 inhibitor and therefore has both bronchodilator and anti-inflammatory effects, which are essential to the improvement of patients with COPD and asthma. 

Verona Pharma is also building a broader portfolio of RPL554-containing products to maximise its benefit to patients and its value. This includes the very significant markets for COPD and asthma maintenance therapy. The Company is also exploring the potential of the drug in different diseases, such as cystic fibrosis, where it is in pre-clinical testing and has received a Venture and Innovation Award from the Cystic Fibrosis Trust.