VRP.L Regulatory News (VRP)

15 Dec 2006 07:00

VERONA PHARMA PLC UPDATE ON NAIPS PROGRAMME

Verona Pharma plc (AIM:VRP) ("Verona Pharma" or the "Company"), a life sciences company developing new therapeutic drugs for the treatment of allergic rhinitis (hay fever) and other chronic respiratory and inflammatory diseases, is pleased to announce that it has signed a material transfer agreement with Glycores 2000 S.r.l. of Milan, Italy. This agreement gives Verona Pharma access to synthetic forms of novel polysaccharide compounds that will be evaluated to determine whether there may be properties of interest for Verona Pharma's Novel Anti-Inflammatory Polysaccharides ("NAIPs") drug development programme.

The agreement with Glycores follows the agreement entered into by the Company with the Scottish company, GlycoMar Ltd, last month to evaluate natural sources of polysaccharides derived from starfish. The Glycores agreement is expected to give Verona Pharma access to a large library of additional potential candidate compounds for its NAIPs programme and further intelligence on the pharmacology of polysaccharides, thereby increasing the likelihood of success for the programme. The acquisition of the rights to develop and exploit any of the compounds which appear to be worthy of further investigation will be the subject of subsequent negotiations.

Verona Pharma's NAIPs programme was derived from studies of the polysaccharide, heparin, which has recently been shown to be an anti-inflammatory drug in a range of diseases, but cannot be widely used since its anti-coagulant effect is an unwanted side effect in the treatment of allergic diseases. The Company is focusing almost a third of its efforts on the development of novel sources of anti-inflammatory polysaccharides for the treatment of common chronic inflammatory conditions such as hay fever and asthma while using its remaining efforts to develop its phosphodiesterase 3/4 inhibitor, RPL554, and other potential drug treatments for the treatment of respiratory and inflammatory diseases.

Hay fever and asthma are among the most prevalent respiratory diseases in the industrialised world. The market for the treatment of these diseases is estimated to be some US$20 billion. Many of the available treatments have either unwanted side effects or limited effectiveness, creating a medical need in this market which Verona Pharma is working to meet.

ENDS For further information: Verona Pharma plcProfessor Clive Page, Chairman 07971 504931www.veronapharma.com Hanson Westhouse LLPTim Feather 0113 246 2610Notes for Editors:About Verona Pharma plc

Verona Pharma plc is an AIM-quoted drug discovery company that is focused on finding new therapeutic drugs for the treatment of allergic rhinitis (hay fever) and other chronic respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), as well as chronic inflammatory diseases. The Company is currently developing a long-acting bronchodilator/ anti-inflammatory drug (belonging to a class of drugs known as mixed phosphodiesterase (PDE) 3/4 inhibitors) that could be rapidly brought to clinical proof-of-concept for the treatment of hay fever and be subsequently developed for the treatment of asthma. Verona Pharma is also exploiting novel polysaccharides as potential anti-inflammatory drugs for the treatment of respiratory allergies, asthma and other inflammatory diseases.

About Glycores 2000 S.r.l.

Glycores 2000 S.r.l. is a privately-held company that supplies and develops polysaccharide compounds that have potential therapeutic and diagnostic applications. Its main office and laboratories are located in Milan, Italy. Further information about Glycores 2000 S.r.l. can be found at their website: http://www.glycores.it.