7th May 2009 07:00
7th May 2009
Vernalis and Servier sign new three-year Collaboration
WINNERSH, U.K., and NEUILLY sur SEINE, France, 7th May 2009 -- Vernalis plc (LSE: VER) and Servier, France's largest privately-owned pharmaceutical company, today announced that they have signed a new three-year joint oncology collaboration, focused on the discovery of drugs for a new target.
Under the terms of the collaboration which uses Vernalis' proprietary fragment and structure-based drug discovery platform on this undisclosed cancer target, Vernalis will receive fees and a share in the downstream success of the product in the form of milestones and royalties on sales, the terms of which are not disclosed. Vernalis and Servier already have an existing collaborative agreement to develop two promising oncology targets involved in protein-protein interactions.
Ian Garland, CEO of Vernalis, commented: "This latest collaboration with Servier confirms our excellent working relationship and Servier's recognition of the quality of our fragment and structure-based drug discovery platform. We are currently using this platform to progress two promising oncology targets involved in protein-protein interactions under our existing collaboration, as well as a number of our own internal research programmes. "
Emmanuel Canet, MD, PhD, President Servier Research and Development, added : "We are benefiting significantly from our existing relationship with Vernalis as part of our strategy to increase our efforts in the development of novel anti-cancer therapeutic approaches. This new collaboration will further expedite the discovery of innovative compounds with potential use in therapeutic indications with high unmet medical need"
"Cancer represents a major cause of mortality worldwide and Servier is committed to providing patients with novel therapeutic approaches for treating these devastating diseases. We are confident that this new collaboration with Vernalis will further complement our research activities and help us to reach our objectives" added Bernard Marchand, PhD, General Manager of Servier Research.
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Enquiries:
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Vernalis Contacts |
+44 (0) 118 977 3133 |
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Ian Garland, Chief Executive Officer |
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David Mackney, Chief Financial Officer |
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Brunswick Group |
+44 (0) 20 7404 5959 |
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Jon Coles |
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Justine McIlroy |
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Notes to Editors
About Servier
Servier is the leading independent French pharmaceutical company, established in 1954 by its founder, Jacques Servier, M.D., Pharm.D. The group is established in 140 countries and 85% of Servier products are prescribed out of France. Sales turnover in 2008 rose to 3.7 billion euros. More than 25% of Servier's turnover is invested in Research and Development. The Servier Group counts 19 Internationals Centers of Therapeutic Research, and its principal therapeutic research orientations are cardiovascular diseases, diabetes, neuropsychiatric disorders, cancer, and osteoarticular diseases. More information is available at: www.servier.com.
About Vernalis
Vernalis is a development stage pharmaceutical company developing a pipeline of clinical and early stage programmes. The company currently has seven product candidates in clinical development (two of which are partnered) and two programmes in pre-clinical trials (one with a partner) and other competitive research programmes. Our collaborations are with leading, global pharmaceutical companies including Biogen Idec, Novartis, Servier, Chiesi, Menarini and Endo.
For further information about Vernalis, please visit www.vernalis.com.
Vernalis' Structure Based Discovery Capabilities
Vernalis has established a track record in innovation in drug discovery by building and applying a proprietary structure and fragment-based platform which has not only underpinned the Group's research by delivering drug candidates but also formed the basis of a number of collaborations. The company uses and develops fragment and structure-based drug discovery methods for its programmes in order to increase the quality and discovery rate of drug candidate compounds. The Company's approach is to generate as much 3 dimensional protein-molecule structural information as possible in the hit identification phase using virtual screening, a distinctive fragment (small parts of molecules) based discovery process, and molecular modelling. In turn, this structural information is used to design novel hit compounds, often combining key interaction features from a number of fragments and compounds together. These hits are then optimised using structure-guided medicinal chemistry. Drug candidate compounds emerging from this discovery process are regularly reviewed and considered for partnering or internal development.
Vernalis Forward-Looking Statement
This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of Frova® and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.
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