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Vernalis Announces Management Changes

20 February 2008

Vernalis plc [LSE:VER] announces today changes in its management organisation linked to the strategic restructuring of its business summarised in the accompanying announcement.

The key organisational changes are as follows:

  • Simon Sturge will step down from his position as CEO and a Director of the Company at the end of this month, by mutual agreement with the Board.

Following this, the management organisation described below will report directly to Dr Peter Fellner, Executive Chairman.

  • John Slater, currently General Counsel, with responsibility also for Business Development, is appointed as Chief Operating Officer, with immediate effect. In addition to his existing responsibilities, the Research and New Product Development functions will report to him for all operational matters. Dr Fellner will oversee the scientific and clinical elements of the R&D programmes.
  • Tony Weir will continue as Chief Financial Officer.

Commenting upon these changes, Peter Fellner, Executive Chairman said:

\"I would like to thank Simon Sturge on behalf of the Board for his contribution to the development of Vernalis over the past years, and for his recent involvement in the preparations for the announced strategic reorientation and restructuring of the Company. The Board and I wish him every success in his future career. I look forward to working directly with the management team to implement this revised business strategy\".

– ends –

Enquiries:


Vernalis plc +44 (0) 118 977 3133
Peter Fellner, Executive Chairman  
   
Brunswick Group +44 (0) 20 7404 5959
Jon Coles  
Justine McIlroy  
Alex Tweed  

Notes to Editors

About Vernalis

Vernalis is a speciality bio-pharmaceutical company focused on products marketed to specialist neurologists. The company has two marketed products, Frova® and Apokyn®, and a development pipeline focused on neurology and central nervous system disorders. The company has six products in clinical development and collaborations with leading, global pharmaceutical companies including Novartis, Biogen Idec, Endo, Menarini and Chiesi:


Product Indication Phase I Phase II Phase III Market Marketing Rights
Apokyn® Parkinson's Disease       x North America
Frova® Migraine       x

Menarini (EU-royalties)

Frova® Menstrual Migraine Prevention     x  

Menarini (EU-royalties)

V1512 Parkinson's Disease   x    

World Wide (excl. Italy )

V10153 Thrombotic Disorders   x    

World Wide

V3381 Neuropathic Pain   x    

World Wide

V2006 Parkinson's Disease   x    

US Co-promotion
Biogen Idec

V24343 Obesity x      

World Wide

AUY922 Cancer x       None – royalty (Novartis)

Forfurther information about Vernalis, please visit www.vernalis.com.

Forward-Looking Statement

Thisnews release may contain forward-looking statements that reflect the Company'scurrent expectations regarding future events including the clinical developmentand regulatory clearance of the Company's products, the Company's ability tofind partners for the development and commercialisation of its products, aswell as the Company's future capital raising activities. Forward-lookingstatements involve risks and uncertainties. Actual events could differ materiallyfrom those projected herein and depend on a number of factors including thesuccess of the Company's research strategies, the applicability of thediscoveries made therein, the successful and timely completion of clinicalstudies, the uncertainties related to the regulatory process, the ability ofthe Company to identify and agree beneficial terms with suitable partners forthe commercialisation and/or development of its products, as well as theachievement of expected synergies from such transactions, the acceptance ofFrova® and Apokyn® and other products by consumers and medical professionals,the successful integration of completed mergers and acquisitions andachievement of expected synergies from such transactions, and the ability ofthe Company to identify and consummate suitable strategic and businesscombination transactions.

Latest News

Results Announcement for the year ended 30 June 2017

Vernalis plc (LSE: VER) today announces its audited financial results for the year ended 30 June 2017, following the year-end trading update published on 18 July 2017.

 

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At a glance

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Contact Vernalis

T: 0118 938 0000
F: 0118 938 0001

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To report SUSPECTED ADVERSE REACTIONS, contact Vernalis Therapeutics, Inc. at 1-855-705-9546 and drugsafety@propharmagroup.com or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch