6th Mar 2015 08:22
LONDON (Alliance News) - Vernalis PLC said Friday that it has received a GBP500,000 milestone payment from its collaboration with Asahi Kasei Pharma Corp.
The collaboration between the two companies began in October, 2013, and seeks to use Vernalis' fragment and structure based drug discovery platform against a target for rheumatoid arthritis and other autoimmune diseases.
Vernalis previously received GBP300,000 from reaching its first milestone under the collaboration last March.
Financial terms of the collaboration have not been disclosed.
Shares in Vernalis are untraded Friday. It last closed at 48.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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