4th Aug 2014 08:34
LONDON (Alliance News) - Vernalis PLC Monday said it and partner Servier have hit two milestones in their oncology drug-discovery collaborations, triggering a EUR750,000 payment to Vernalis.
The pair have been working together since 2007, using Vernalis' proprietary fragment and structure-based drug-discovery platform on a number of oncology targets. Only one of those targets, Bcl-2, has been disclosed.
Under the deal, Vernalis is paid fees and a share in the future success of any products through development milestones and royalties on sales.
"We are delighted to achieve these milestones, recognising our very successful partnership with Servier, and we look forward to further success from this relationship," said Vernalis Chief Executive Ian Garland.
Vernalis shares were down 1.5% at 31.75 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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