28th Aug 2007 07:02
Vernalis PLC28 August 2007 28 August 2007 VERNALIS PLC ANNOUNCES DEPARTURE OF BOARD MEMBER Vernalis plc (LSE VER) announces that Dr John Hutchison, Development Director,will be leaving the Company, to join another company in the Life Sciencessector. Commenting, Simon Sturge, CEO of Vernalis, said: "John has indicated for some time that he would wish to seek new challengesfollowing the FDA's review of the sNDA for the short term prophylactic use ofFrova(R) in menstrual migraine. John has been offered an alternative position and, notwithstanding the recentdelay in completing the review of the sNDA, announced on 17th August, we agreedto accept his resignation. I would like to thank John for his considerable contribution as a senior memberof the Vernalis management team. We wish him well". A search is under way for a suitable successor and an announcement will be madein due course. -- ends --Enquiries: Vernalis plc +44 (0) 118 977 3133Peter Fellner, Chairman Simon Sturge, Chief Executive Officer Brunswick Group +44 (0) 20 7404 5959Jon ColesJustine McIlroyAlex Tweed Lazar Partners LtdGregory Gin +1 212-867-1762 Notes to Editors About Vernalis Vernalis has significant product development milestones during 2007 Frova(R) MM PDUFAV10153 Phase IIa dataV24343 Phase I dataV1512 Start Phase IIIHsp90 Start clinical testing Vernalis is a speciality bio-pharmaceutical company focused on products marketedto specialist neurologists. The company has two marketed products, Frova(R) andApokyn(R), and a development pipeline focused on neurology and central nervoussystem disorders. The company has seven products in clinical development andcollaborations with leading, global pharmaceutical companies including Novartis,Biogen Idec, Serono and Chiesi: Product Indication Phase Phase Phase Registration Market Marketing Rights I II IIIApokyn Parkinson's X North America(R) Disease Frova Migraine X US Co-promotion (R) Endo (EU - royalties) Frova Menstrual X US Co-promotion(R) Migraine Endo Prevention (EU - royalties) V1512 Parkinson's X World Wide (excl. Disease Italy) V10153 Thrombotic X World Wide Disorders V1003 Acute Pain X US Profit share Option Reckitt BenckiserV3381 Neuropathic X World Wide Pain V2006 Parkinson's X US Co-promotion Disease Biogen Idec MMPI Multiple X None - royalty Sclerosis (Serono) Vernalis has established a US commercial operation to promote Apokyn (R) andco-promote Frova (R) alongside its North American licensing partner, EndoPharmaceuticals, propelling the company towards its goal of becoming asustainable, 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 theCompany's current expectations regarding future events including the clinicaldevelopment and regulatory clearance of the Company's products, the Company'sability to find partners for the development and commercialisation of itsproducts, as well as the Company's future capital raising activities.Forward-looking statements involve risks and uncertainties. Actual events coulddiffer materially from those projected herein and depend on a number of factorsincluding the success of the Company's research strategies, the applicability ofthe discoveries made therein, the successful and timely completion of clinicalstudies, the uncertainties related to the regulatory process, the ability of theCompany to identify and agree beneficial terms with suitable partners for thecommercialisation and/or development of its products, as well as the achievementof expected synergies from such transactions, the acceptance of Frova(R) andApokyn(R) and other products by consumers and medical professionals, thesuccessful integration of completed mergers and acquisitions and achievement ofexpected synergies from such transactions, and the ability of the Company toidentify and consummate suitable strategic and business combinationtransactions. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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