Vernalis PLC annouces departure of board member
28 August 2007
Vernalis plc (LSE VER) announces that Dr John Hutchison, Development Director, will be leaving the Company, to join another company in the Life Sciences sector.
Commenting, Simon Sturge, CEO of Vernalis, said:
“John has indicated for some time that he would wish to seek new challenges following the FDA’s review of the sNDA for the short term prophylactic use of Frova® in menstrual migraine.
John has been offered an alternative position and, notwithstanding the recent delay in completing the review of the sNDA, announced on 17th August, we agreed to accept his resignation.
I would like to thank John for his considerable contribution as a senior member of the Vernalis management team. We wish him well”.
A search is under way for a suitable successor and an announcement will be made in due course.
-- ends --
Enquiries:
|
Vernalis plc |
+44 (0) 118 977 3133 |
|
Peter Fellner, Chairman Simon Sturge, Chief Executive Officer |
|
|
|
|
|
Brunswick Group |
+44 (0) 20 7404 5959 |
|
Jon Coles |
|
|
Justine McIlroy |
|
|
Alex Tweed |
|
|
|
|
|
Lazar Partners Ltd |
|
|
Gregory Gin |
+1 212-867-1762 |
Notes to Editors
About Vernalis
Vernalis has significant product development milestones during 2007
|
Frova® |
MM PDUFA |
|
V10153 |
Phase IIa data |
|
V24343 |
Phase I data |
|
V1512 |
Start Phase III |
|
Hsp90 |
Start clinical testing |
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 seven products in clinical development and collaborations with leading, global pharmaceutical companies including Novartis, Biogen Idec, Serono and Chiesi:
|
Product |
Indication |
Phase I |
Phase II |
Phase III |
Registration |
Market |
Marketing Rights | |
|
Apokyn® |
Parkinson’s Disease |
|
|
|
|
X |
North America | |
|
Frova® |
Migraine |
|
|
|
|
X |
US Co-promotion Endo (EU – royalties) | |
|
Frova® |
Menstrual Migraine Prevention |
|
|
|
X |
|
US Co-promotion Endo (EU – royalties) | |
|
V1512 |
Parkinson’s Disease |
|
X |
|
|
|
World Wide (excl. Italy) | |
|
V10153 |
Thrombotic Disorders |
|
X |
|
|
|
World Wide | |
|
V1003 |
Acute Pain |
|
X |
|
|
|
US Profit share Option Reckitt Benckiser | |
|
V3381 |
Neuropathic Pain |
|
X |
|
|
|
World Wide | |
|
V2006 |
Parkinson’s Disease |
|
X |
|
|
|
US Co-promotion Biogen Idec | |
|
MMPI |
Multiple Sclerosis |
X |
|
|
|
|
None - royalty (Serono) | |
Vernalis has established a US commercial operation to promote Apokyn ® and co-promote Frova ® alongside its North American licensing partner, Endo Pharmaceuticals, propelling 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.
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® and Apokyn® 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 transaction
