WINNERSH, U.K. and NEUILLY-sur-SEINE, France, May 17, 2007 (PRIME NEWSWIRE) -- Vernalis plc (LSE:VER) (Pink Sheets:VNLSY) and Servier, France's largest privately-owned pharmaceutical company, today announced that they entered into a joint, three-year, oncology drug discovery collaboration.
"Cancers represent a major cause of mortality worldwide and Servier is committed to provide patients with novel therapeutic approaches for treating these devastating pathologies. We are confident that the collaboration with Vernalis will efficiently complement our research activities and help us in reaching our objectives," said Laurent Perret, M.D., Ph.D., President Servier Research and Development.
"The partnership with Vernalis is a major step in our strategy to increase our efforts in the development of novel anti-cancer therapeutic approaches. This collaboration will expedite the discovery of innovative compounds with potential use in therapeutic indications with high unmet medical need," added Emmanuel Canet, M.D., Ph.D., Vice President Servier Research and Development.
Under the terms of the collaboration which utilises Vernalis' proprietary drug discovery platform on this undisclosed target, Vernalis will receive an upfront payment and a share in the downstream success of the product, terms of which are not disclosed.
Simon Sturge, CEO of Vernalis, commented:
"The collaboration with Servier is an important step for Vernalis and further validates our fragment-based drug discovery platform. This platform is currently being used to progress a number of our research programmes. This collaboration with Servier follows on from a recent announcement that another of our partners, Novartis, has selected a second Hsp90 compound, also discovered using our innovative platform, as a preclinical development candidate. We are delighted to announce this relationship with Servier and look forward to working with them to develop exciting new cancer treatment opportunities."
There will be significant newsflow in the coming months for Vernalis, with expected progress to include:
* Frova(r): Menstrual Migraine PDUFA date -- 19 August 2007 * V10153: Data from Phase IIa -- Novel long-acting thrombolytic for acute ischaemic stroke * V3381: Data from Phase II -- Dual NMDA antagonist and MAO-A inhibitor for neuropathic pain * V24343: Data from Phase I -- CB1 antagonist for obesity * Hsp90: Start of Phase I -- Novel oncology treatment in Cancer (partnered with Novartis)
Notes to Editors
About Servier
Servier is the leading independent French pharmaceutical company, established in 1954 by its founder, Jacques Servier, M.D., Pharm.D. The group is established in 140 countries and 82% of Servier products are prescribed out of France. Sales turnover in 2006 rose to 3.3 billion euros. Almost 25% of Servier's turnover is invested in Research and Development. The Servier Group counts 19 Internationals Centers of Therapeutic Research, and its principal therapeutic research orientations are cardiovascular diseases, diabetes, neuropsychiatric disorders, cancer, and osteoarticular diseases. More information is available at: www.servier.com.
About Vernalis
Vernalis is a speciality bio-pharmaceutical company focused on products marketed to specialist neurologists. The company has two marketed products, Frova(r) and Apokyn(r), and a development pipeline focused on neurology and central nervous system disorders. The company has eight products in clinical development and collaborations with leading, global pharmaceutical companies including Novartis, Biogen Idec and Serono. Vernalis has established a US commercial operation to promote Apokyn(r) and co-promote Frova(r) alongside its North American licensing partner, Endo Pharmaceuticals, progressing the company towards its goal of becoming a sustainable, self-funding, R&D-driven, speciality bio-pharmaceutical company. For further information about Vernalis, please visit: www.vernalis.com
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Phase Phase Phase Regis- Marketing
Product Indication I II III tration Market Rights
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Apokyn(r) Parkinson's x
Disease North America
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US milestones
& royalties -
Frova(r) Migraine x Endo (EU -
royalties)
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Frova(r) Menstrual x US milestones
Migraine & royalties -
Prevention Endo (EU -
royalties)
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V1512 Parkinson's x World Wide
Disease (excl. Italy)
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V10153 Ischaemic
stroke x World Wide
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US Profit
share Option
V1003 Acute Pain x Reckitt
Benckiser
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V3381 Neuropathic
Pain x World Wide
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V2006 Parkinson's x US Co-promotion
Disease Biogen Idec
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MMPI Multiple x None - royalty
Sclerosis (Serono)
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V24343 Obesity x World Wide
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Vernalis' Structure Based Discovery Capabilities
Vernalis has a strong research capability focused on the discovery of drug development candidates to treat diseases of the central nervous system (CNS) and cancer. The company uses and develops structure-based drug discovery methods for its programmes in order to increase the quality and discovery rate of drug candidate compounds. The Company's approach is to generate as much 3 dimensional protein-molecule structural information as possible in the hit identification phase using virtual screening, a distinctive fragment (small parts of molecules) based discovery process, and molecular modeling. In turn, this structural information is used to design novel hit compounds, often combining key interaction features from a number of fragments and compounds together. These hits are then optimised using structure-guided medicinal chemistry. Drug candidate compounds emerging from this discovery process in both therapeutic areas are regularly reviewed and considered for partnering or internal development.
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 products, 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 Frova(r) and Apokyn(r) 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.