Vernalis PLC Vernalis + Daiichi Sankyo Enter Collaboration (1386Z)

TIDMVER

RNS Number : 1386Z

Vernalis PLC

13 December 2017

13 December 2017

LSE: VER

Vernalis plc enters into research collaboration

with Daiichi Sankyo

Vernalis plc (LSE: VER) announced today that it has entered into a drug discovery collaboration with Daiichi Sankyo Company, Limited utilizing Vernalis' fragment and structure-based drug discovery platform against undisclosed oncology targets.

The financial terms of this collaboration are not disclosed.

Ian Garland, CEO of Vernalis, commented: "We are delighted to be working with Daiichi Sankyo on this project. This is another excellent endorsement of our market leading fragment and structure-based drug discovery platform and we look forward to a successful collaboration with Daiichi Sankyo."

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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain.

Enquiries:

 
 Vernalis plc: 
 Ian Garland, Chief Executive 
  Officer 
  David Mackney, Chief Financial          [phone] 
  Officer                                            0015 
 Canaccord Genuity Limited (Nominated     [phone] 
  Adviser and Joint Broker)                          8000 
 Henry Fitzgerald-O'Connor 
  Emma Gabriel 
                                          [phone] 
 Shore Capital (Joint Broker):                       4090 
 Mark Percy 
  Toby Gibbs 
                                          [phone] 
 FTI Consulting:                                     1000 
 Ben Atwell 
  Simon Conway 
  Stephanie Cuthbert 
 Stern Investor Relations, Inc:          + 1 212 362 1200 
 Stephanie Ascher 
  Jane Urheim 
 

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(R) XR targeting the US prescription cough-cold market; Moxatag(R) , 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. It has an exclusive licensing agreement to develop and commercialise multiple novel products focused 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 Asahi Kasei Pharma, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier 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 NCE pipeline, the Company's ability to successfully commercialise its cough-cold products and Moxatag(R) through its own sales force, 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 Tuzistra(R) XR, Moxatag(R) , 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 13, 2017 02:00 ET (07:00 GMT)