Verona Pharma PLC Grant of Share Options

 
TIDMVRP 
 
Verona Pharma plc 
 
                      ("Verona Pharma" or the "Company") 
 
                            Grant of Share Options 
 
10 February 2016, Cardiff - Verona Pharma plc (AIM: VRP) announces that the 
Board has on 9 February 2016 granted options over 14,900,000 ordinary shares 
("Options") in the Company to one of its Directors and certain employees in 
accordance with the terms of the Company's share option plans. Half of the 
Options will vest on 9 February 2018 and the other half on 9 February 2019. The 
Options have a ten-year exercise window from the date of grant. 
 
Of the Options granted, 10,000,000 options have been granted to Dr. Jan-Anders 
Karlsson, half of which have an exercise price of 4 pence per option and the 
other half have an exercise price of 6.6 pence per option. 
 
Dr. Karlsson's total beneficial interest in the Company remains 2,870,000 
ordinary shares, representing 0.28% of the Company's issued share capital. 
Following this grant, Dr. Karlsson holds options over 38,000,000 ordinary 
shares, representing 3.76% of the Company's issued share capital, with a range 
of exercise prices between 2.5 and 15 pence per option. 
 
                                    -Ends- 
 
For further information please contact: 
 
Verona Pharma plc                      Tel: +44 (0)20 3283 4200 
 
Jan-Anders Karlsson, Chief Executive 
Officer 
 
N+1 Singer                             Tel: +44 (0)20 7496 3000 
 
Aubrey Powell / Jen Boorer 
 
FTI Consulting                         Tel: +44 (0)20 3727 1000 
 
Simon Conway / Stephanie Cuthbert / 
Natalie Garland-Collins 
 
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. 
 
 
 
END

(END) Dow Jones Newswires

February 10, 2016 09:47 ET (14:47 GMT)

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