CMO appointment & incorporation of Verona Pharma Inc

Verona Pharma plc ("Verona Pharma" or the "Company") Appointment of Dr Kenneth Newman as Chief Medical Officer and Incorporation of Verona Pharma, Inc. 17 December 2014, Cardiff - Verona Pharma plc (AIM: VRP.L), the drugdevelopment company focused on first-in-class medicines to treat respiratorydiseases, today announces the appointment of Kenneth Newman, M.D., M.B.A. tothe newly created position of Chief Medical Officer, with effect from 1 January2015. The Company today also announces the incorporation of its fully ownedsubsidiary Verona Pharma, Inc. Dr Newman will be based in the US and providehis expertise to support the Company's global activities. Today's appointment and the creation of the US affiliate reflects thecontinuing focus of Verona Pharma on advancing the clinical development andcommercialisation of its lead pipeline drug, RPL554, a first-in-class PDE3/PDE4inhibitor currently in phase II development for the treatment of chronicobstructive pulmonary disease (COPD) and asthma. RPL 554 is also in preclinicaldevelopment for cystic fibrosis. In addition to the US being the largest marketfor each of the therapeutic areas of application for this drug, it isanticipated that future drug development trials will involve significantparticipation from US sites, as well as consultation with US regulators andpotentially also collaborations with future partners. The Board thereforebelieves a US presence will be of tangible benefit in facilitating theCompany's development and commercialisation plans. Dr. Newman is an experienced pharmaceutical and biotechnology industryexecutive with extensive leadership experience in clinical development,including a number of orally inhaled drugs for the treatment of respiratorydisease. Dr. Newman will join Verona Pharma from Mesoblast Inc (ASX: MSB), aleading regenerative medicine company, where he was Chief Development Officerand Head of Global Clinical Development. Prior to that, between 2010 and 2013,Dr. Newman was Chief Medical Officer and EVP of Acton Pharmaceuticals, where hewas responsible for the clinical development and regulatory submission of tworespiratory products that were subsequently approved by the FDA. Acton was soldto Meda Pharmaceuticals (STOSE: MEDA) for $135m in August 2013. From 2006 to2009, Dr. Newman was VP, Medical Affairs at Boehringer Ingelheim, where heoversaw the Medical Affairs Department, which comprised of a number oftherapeutics areas, including respiratory. From 1997-2006, Dr. Newman held anumber of positions of increasing seniority within the Clinical Development andMedical Affairs Departments at Forest Laboratories (now Actavis NYSE: ACT),culminating in Executive Director, Clinical Development. Dr. Newman began hisprofessional career as an attending physician at the National Jewish Medicaland Research Center, Denver, Colorado and then the University of Cincinnati,Ohio. He was awarded an MBA from University of Cincinnati in 1998. Dr Jan-Anders Karlsson, CEO of Verona Pharma, said: "I am delighted that Dr. Newman will be joining Verona Pharma in the newlycreated position of Chief Medical Officer, based in the US. His extensiveexperience in the clinical development of respiratory drugs, including hissuccess in securing regulatory approvals, will be invaluable as we progress ourlead drug, RPL554, in the clinic and through to commercialisation. Thisfirst-in-class PDE3/4 inhibitor is currently in phase II development as anebulised treatment for acute exacerbations in COPD and asthma. This is an areaof high unmet medical need with an addressable market that is estimated to bein excess of $1bn1 in the US alone." -Ends- References 1 Bronchodilating Nebulizer US Market Assessment, IMS (Dec 2014) For further information please contact: Verona Pharma plc Tel: +44 (0) 20 7863 3300 Jan-Anders Karlsson, CEO N+1 Singer Tel: +44 (0)20 7496 3000 Aubrey Powell / Jen Boorer FTI Consulting Tel: +44 (0)20 3727 1000 Julia Phillips / Simon Conway Notes to Editors About Verona Pharma plc Verona Pharma plc is a UK-based clinical stage biopharmaceutical companyfocused on the development of innovative prescription medicines to treatrespiratory diseases with significant unmet medical needs, such as COPD, asthmaand cystic fibrosis. Verona Pharma's lead drug, RPL554, is a first-in-classdrug currently in Phase II trials as a nebulised treatment for acuteexacerbations of COPD in the hospital setting. The drug is a dualphosphodiesterase (PDE) 3/4 inhibitor and therefore has both bronchodilator andanti-inflammatory effects, which are essential to the improvement of patientswith COPD and asthma. Verona Pharma is also building a broader franchise aroundRPL554 to maximise its value, both to patients and to investors. This includesthe very significant markets for COPD and asthma maintenance therapy. TheCompany is also exploring the potential of the drug in different diseases, suchas cystic fibrosis, where it is in pre-clinical testing and has recentlyreceived a Venture and Innovation Award from the Cystic Fibrosis Trust.