6th Aug 2009 07:00
Notifiable Share Interest in Vernalis plc ("Vernalis")
GlaxoSmithKline plc ("GSK") announces that on 5 August 2009, SmithKline Beecham Corporation, a wholly owned subsidiary of GSK, agreed to subscribe for 2,040,542 ordinary shares in Vernalis (representing 3.39% of the enlarged share capital of Vernalis) for an aggregate subscription price of £1.77 million ($3 million). Vernalis plc is a development stage pharmaceutical company whose shares are traded on the London Stock Exchange..
The subscription is being made in connection with a collaboration, option and license agreement reached between the two companies, relating to a Vernalis research programme in oncology. An up-front payment in cash of $3 million was also made to Vernalis plc on signing of the agreement.
S M Bicknell
Company Secretary
5 August 2009
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Enquiries: |
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UK Media enquiries: |
Philip Thomson |
(020) 8047 5502 |
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David Outhwaite |
(020) 8047 5502 |
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Stephen Rea |
(020) 8047 5502 |
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Alexandra Harrison |
(020) 8047 5502 |
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US Media enquiries: |
Nancy Pekarek |
(919) 483 2839 |
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Mary Anne Rhyne |
(919) 483 2839 |
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Kevin Colgan |
(919) 483 2839 |
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Lisa Behrens |
(919) 483 2839 |
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European Analyst/Investor enquiries: |
David Mawdsley |
(020) 8047 5564 |
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Sally Ferguson |
(020) 8047 5543 |
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Gary Davies |
(020) 8047 5503 |
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US Analyst/ Investor enquiries: |
Tom Curry |
(215) 751 5419 |
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Jen Hill Baxter |
(215) 751 7002 |
Related Shares:
GlaxosmithklineVernalis PLC