Vernalis PLC Vernalis and Servier Achieve Research Milestone (4885Y)

TIDMVER

RNS Number : 4885Y

Vernalis PLC

06 December 2017

6 December 2017

LSE: VER

Vernalis and Servier Achieve Research Milestone

in Third Oncology Collaboration

Vernalis plc and Servier today announce the achievement of a pre-clinical milestone in their third oncology drug discovery collaboration. Vernalis will receive a payment of EUR1.0m from Servier in recognition of this achievement.

This third collaboration with Servier was initiated in January 2012 and utilises Vernalis' proprietary fragment- and structure-based drug discovery platform. Vernalis receives fees and a share in the future success of the product in the form of milestones and royalties on sales. Financial terms are not disclosed.

Ian Garland, CEO of Vernalis commented: "We are delighted by the continuing success of our multiple collaborations with Servier and look forward to further success from this relationship."

"This new milestone testifies the valuable collaboration between Vernalis and Servier", said Olivier Geneste, head of research in Oncology at Servier.

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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:                      [phone] 
   Ian Garland, Chief Executive 
    Officer 
    David Mackney, Chief Financial 
    Officer 
   Canaccord Genuity Limited 
    (Nominated Adviser and Joint 
    Broker):                          [phone] 
   Henry Fitzgerald-O'Connor 
    Emma Gabriel 
   Shore Capital (Joint Broker):      [phone] 
   Mark Percy 
    Toby Gibbs 
   FTI Consulting:                    [phone] 
   Ben Atwell 
    Simon Conway 
    Stephanie Cuthbert 
 

Servier

Sonia Marques

Servier Media Relations Dpt.

Tel: [phone]

Email: [e-mail]

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.

About Servier

Servier is an international pharmaceutical company governed by a non-profit foundation, with its headquarters in France (Suresnes). With a strong international presence in 148 countries and a turnover of 4 billion euros in 2016, Servier employs 21,000 people worldwide. Entirely independent, the Group reinvests 25% of its turnover (excluding generic drugs) in research and development and uses all its profits for development. Corporate growth is driven by Servier's constant search for innovation in five areas of excellence: cardiovascular, immune-inflammatory and neuropsychiatric diseases, cancers and diabetes, as well as by its activities in high-quality generic drugs.

More information: www.servier.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 06, 2017 02:00 ET (07:00 GMT)