Verona Pharma plc Verona Pharma Announces Departure Of Chief Medical Officer

 
TIDMVRP 
 
 
   LONDON, April 11, 2018 (GLOBE NEWSWIRE) -- Verona Pharma plc (AIM:VRP) 
(Nasdaq:VRNA) ("Verona Pharma" or "the Company"), a clinical-stage 
biopharmaceutical company focused on developing and commercializing 
innovative therapies for respiratory diseases, today announces that 
Kenneth Newman, M.D., has resigned from his position as Chief Medical 
Officer, effective April 30, 2018, to pursue other opportunities.  The 
Company has commenced an executive search for a replacement. 
 
   Jan-Anders Karlsson, PhD, CEO of Verona Pharma, commented, "We thank Ken 
for his outstanding service and many contributions to the Company. Over 
the past three years, he has led the acceleration of RPL554's clinical 
development program into Phase 2b trials and overseen seven successful 
clinical trials. He played an instrumental role in establishing our U.S. 
presence and we wish him the best in his future endeavors." 
 
   About Verona Pharma plc 
 
   Verona Pharma is a clinical-stage biopharmaceutical company focused on 
developing and commercializing innovative therapies for the treatment of 
respiratory diseases with significant unmet medical needs. Verona 
Pharma's product candidate, RPL554, is a first-in-class, inhaled, dual 
inhibitor of the enzymes phosphodiesterase 3 and 4 that acts as both a 
bronchodilator and an anti-inflammatory agent in a single compound. In 
clinical trials, treatment with RPL554 has been observed to result in 
statistically significant improvements in lung function as compared to 
placebo, and has shown clinically meaningful and statistically 
significant improvements in lung function when administered in addition 
to frequently used short- and long-acting bronchodilators as compared to 
such bronchodilators administered as a single agent. Verona Pharma is 
developing RPL554 for the treatment of chronic obstructive pulmonary 
disease (COPD), cystic fibrosis (CF), and potentially asthma. 
 
   Forward-Looking Statements 
 
   This press release contains forward-looking statements. All statements 
contained in this press release that do not relate to matters of 
historical fact should be considered forward-looking statements, 
including, but not limited to, statements regarding the recruitment of a 
replacement Chief Medical Officer. 
 
   These forward-looking statements are based on management's current 
expectations. These statements are neither promises nor guarantees, but 
involve known and unknown risks, uncertainties and other important 
factors that may cause our actual results, performance or achievements 
to be materially different from our expectations expressed or implied by 
the forward-looking statements, including, but not limited to, the 
following: our limited operating history; our need for additional 
funding to complete development and commercialization of RPL554, which 
may not be available and which may force us to delay, reduce or 
eliminate our development or commercialization efforts; the reliance of 
our business on the success of RPL554, our only product candidate under 
development; economic, political, regulatory and other risks involved 
with international operations; the lengthy and expensive process of 
clinical drug development, which has an uncertain outcome; serious 
adverse, undesirable or unacceptable side effects associated with 
RPL554, which could adversely affect our ability to develop or 
commercialize RPL554; potential delays in enrolling patients, which 
could adversely affect our research and development efforts; we may not 
be successful in developing RPL554 for multiple indications; our ability 
to obtain approval for and commercialize RPL554 in multiple major 
pharmaceutical markets; misconduct or other improper activities by our 
employees, consultants, principal investigators, and third-party service 
providers; the loss of any key personnel and our ability to recruit 
replacement personnel, material differences between our "top-line" data 
and final data; our reliance on third parties, including clinical 
investigators, manufacturers and suppliers, and the risks related to 
these parties' ability to successfully develop and commercialize RPL554; 
and lawsuits related to patents covering RPL554 and the potential for 
our patents to be found invalid or unenforceable. 
 
   These and other important factors under the caption "Risk Factors" in 
our Annual Report on Form 20-F filed with the Securities and Exchange 
Commission ("SEC") on February 27, 2018 relating to our Registration 
Statement on Form F-1, and our other reports filed with the SEC, could 
cause actual results to differ materially from those indicated by the 
forward-looking statements made in this press release. Any such 
forward-looking statements represent management's estimates as of the 
date of this press release. While we may elect to update such 
forward-looking statements at some point in the future, we disclaim any 
obligation to do so, even if subsequent events cause our views to 
change. These forward-looking statements should not be relied upon as 
representing our views as of any date subsequent to the date of this 
press release. 
 
   For further information, please contact: 
 
 
 
 
 Verona Pharma plc                                  Tel: +44 (0)20 3283 4200 
 Jan-Anders Karlsson, Chief Executive Officer       info@veronapharma.com 
 
 Stifel Nicolaus Europe Limited (Nominated Adviser  Tel: +44 (0) 20 7710 7600 
  and UK Broker)                                     SNELVeronaPharma@stifel.com 
  Stewart Wallace / Jonathan Senior / Ben Maddison 
 
 FTI Consulting (UK Media and Investor enquiries)   Tel: +44 (0)20 3727 1000 
 Simon Conway / Natalie Garland-Collins             veronapharma@fticonsulting.com 
 
 ICR, Inc. (US Media and Investor enquiries) 
 James Heins                                        Tel: +1 203-682-8251 
                                                     James.Heins@icrinc.com 
 Stephanie Carrington                               Tel. +1 646-277-1282 
                                                     Stephanie.Carrington@icrinc.com 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Verona Pharma plc via Globenewswire 
 
 
  http://www.veronapharma.com/
(END) Dow Jones Newswires
April 11, 2018 02:00 ET (06:00 GMT)
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