20th Mar 2007 07:00
VERONA PHARMA PLC Material Transfer Agreement with HepMim Biosciences
Verona Pharma plc (AIM: VRP) ("Verona Pharma" or the "Company"), the life sciences company dedicated to the research, discovery and development of new therapeutic drugs for the treatment of allergic rhinitis (hay fever) and other chronic respiratory diseases, is pleased to announce that it has signed a Material Transfer Agreement with HepMim Biosciences Pty Ltd of Perth, Australia for the supply of various novel polysaccharide compounds as potential lead candidates for the Company's Novel Anti-Inflammatory Polysaccharides (NAIPs) programme.
HepMim Biosciences and its respected scientific team have developed a library of compounds that mimic naturally occurring polysaccharide molecules known as glycosaminoglycans. These compounds are believed to have potential in the treatment of inflammatory diseases such as allergic rhinitis and asthma. Under the Material Transfer Agreement, Verona Pharma will access and evaluate various polysaccharide compounds using its dedicated assays. For any compound worthy of further investigation, Verona Pharma plans to enter into an agreement with HepMim Biosciences for the rights to develop and exploit such compound in the respiratory area.
In addition to its RPL554 project for the development of a novel long-acting phosphodiesterase 3/4 inhibitor, Verona Pharma is actively pursuing its drug discovery efforts in the area of NAIPs for the treatment of common chronic inflammatory conditions such as hay fever and asthma. NAIPs are anticipated to be a rich source of new compounds for the Company's product pipeline.
Hay fever and asthma are among the most prevalent respiratory diseases in the industrialised world. The global market for the treatment of these diseases is estimated to be some US$20 billion. At this time, Verona Pharma is targeting an unmet medical need in this market since many of the available treatments have either unwanted side effects or limited effectiveness.
ENDSFor further information:Verona Pharma plc
Professor Clive Page, Chairman 079 7150 4931
www.veronapharma.com
Hanson Westhouse Limited
Tim Feather / Matthew Johnson 0113 246 2610
Notes for Editors:
About Verona Pharma plc
Verona Pharma plc is an AIM-listed drug discovery company that is focused on finding new therapeutic drugs for the treatment of allergic rhinitis (hay fever) and other chronic respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), as well as chronic inflammatory diseases. The Company is currently developing a long-acting bronchodilator/ anti-inflammatory drug (belonging to a class of drugs known as mixed phosphodiesterase (PDE) 3/4 inhibitors) that could be rapidly brought to clinical proof-of-concept for the treatment of hay fever and be subsequently developed for the treatment of asthma. Verona Pharma is also exploiting novel polysaccharides as potential anti-inflammatory drugs for the treatment of respiratory allergies, asthma and other inflammatory diseases. For more information, go to www.veronapharma.com
About HepMim Biosciences Pty Ltd
HepMim Biosciences Pty Ltd is a spin-off company of Curtin University of Technology, Australia that has developed a library of naturally occurring sugars known as glycosaminoglycans for treating inflammatory diseases like asthma and allergic rhinitis. Its main office and laboratories are located in Perth, Australia.
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