Vernalis PLC New drug discovery collaboration with Servier (5384Y)
March 06 2017 - 2:00AM
UK Regulatory
TIDMVER
RNS Number : 5384Y
Vernalis PLC
06 March 2017
6 March 2017
LSE: VER
Vernalis plc and Servier enter into a new drug discovery
collaboration
strengthening their existing partnership
Vernalis plc and Servier are pleased to announce that they
reinforce their partnership by entering into a new two-year
oncology drug discovery collaboration on an undisclosed target.
This agreement extends the existing successful collaborations
between Servier and Vernalis since 2007, to combine Vernalis'
proprietary fragment- and structure-based drug discovery platform
with the oncology expertise at Servier. Previous successes include
discovery of products targeting Bcl-2 and Mcl-1 currently in
clinical development.
Vernalis will receive a EUR2 million upfront payment, fees,
research milestones and a share in the downstream success of any
products coming out of this new collaboration.
"This new collaboration further validates our fragment-based
drug discovery platform and the strength and success of our
relationship with Servier. We look forward to working together to
develop exciting new cancer treatment opportunities to add to the
already disclosed success in targeting Bcl-2 and Mcl-1", commented
Ian Garland, CEO of Vernalis.
"The original structure of Servier, governed by a non-profit
foundation, allows us to enter long-term collaborations with
world-class partners like Vernalis, and use our expertise to bring
innovative therapies to patients", added Olivier Geneste, Director
of Oncology Research at Servier.
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.
-- ends --
Enquiries:
Vernalis plc: +44 (0) 118 938 0015
Ian Garland, Chief Executive
Officer
David Mackney, Chief Financial
Officer
Canaccord Genuity Limited
(Nominated Adviser and Joint
Broker): +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor
Emma Gabriel
Shore Capital (Joint Broker): +44 (0) 20 7408 4090
Bidhi Bhoma
Toby Gibbs
FTI Consulting: +44 (0) 20 3727 1000
Ben Atwell
Simon Conway
Stephanie Cuthbert
Servier: +33 1 5572 6037
Karine Bousseau Email: media@servier.com
Servier External Communications
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 Suresnes (France).
With a strong international presence in 148 countries and a
turnover of 4 billion euros in 2016, Servier employs 21 000 people
worldwide. Corporate growth is driven by Servier's constant search
for innovation in five areas of excellence: cardiovascular
diseases, diabetes, cancers, immune-inflammatory diseases, and
neurodegenerative diseases, as well as by its activities in
high-quality generic drugs. Being completely independent, the Group
reinvests 25% of turnover (excluding generics) in research and
development and uses all its profits for growth.
Becoming a key player in oncology is part of Servier's long-term
strategy. Currently, there are nine new molecular entities in
clinical development in this area, targeting breast and lung
cancers and other solid tumors, as well as various leukemias and
lymphomas. This portfolio of innovative cancer treatments is being
developed with partners worldwide, and covers different cancer
hallmarks, including cytotoxics, proapoptotics, targeted, immune
and cellular therapies.
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
END
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March 06, 2017 02:00 ET (07:00 GMT)
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