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.