Phase IIa headline results for VRP700

23 June 2014 Verona Pharma plc ("Verona Pharma" or the "Company") Verona Pharma reports Phase IIa headline results for VRP700 Verona Pharma plc (AIM: VRP), the drug development company focused on"first-in-class" medicines to treat respiratory diseases, today announces thatthe Phase IIa clinical trial, to evaluate the efficacy of a single dose ofVRP700 as a novel treatment for chronic severe cough in patients withidiopathic pulmonary fibrosis (IPF) did not meet the primary endpoint of astatistically significant reduction in cough frequency when compared toplacebo. This placebo-controlled, cross-over exploratory study was conducted in 20 IPFpatients who received, as part of the protocol, a single inhaled dose of either100 mg VRP700 or placebo. It follows the successful outcome of a single centrepilot study in which an inhaled dose of VRP700 effectively inhibited coughingin a smaller group of patients with interstitial lung disease (ILD). Verona Pharma CEO, Dr. Jan-Anders Karlsson, commented: "These data are clearlydisappointing and did not meet our expectations given the marked inhibition ofcoughing observed in a previous clinical trial with patients administeredVRP700, albeit with a different underlying disease, ILD. It is possible thatVRP700 works better in such patients or that more frequent dosing, for a longertime period, may be required to effectively suppress coughing in IPF patients.While we will not undertake any further in-house development of VRP700, we willcomprehensively review the data from this study and explore opportunities torealise further value from this asset. "In the meantime - and as outlined at the time of our recent fundraising - wewill continue to focus on the development of our novel lead drug, RPL554. Thisinhaled, first-in-class, PDE3/PDE4 inhibitor has both bronchodilator andanti-inflammatory properties and is initially being developed as a nebulizedtreatment for acute exacerbations of COPD. The next set of clinical data forRPL554 is expected in early 2015." For further information please contact: Verona Pharma plc Tel: 020 7863 3300Jan-Anders Karlsson, CEORichard Bungay CFO WH Ireland Limited Tel: 020 7220 1666Chris FieldingNick Field FTI Consulting Tel: 020 3727 1000Julia PhillipsSimon Conway Notes to Editors About Verona Pharma plc Verona Pharma is developing first-in-class drugs to treat respiratory disease,such as COPD, asthma and chronic, severe cough. The Company has three drugprogrammes, two of which are in Phase II. The lead programme, RPL554, is aninnovative dual phosphodiesterase (PDE) 3 and 4 inhibitor with bothbronchodilator and anti-inflammatory properties. VRP700 is an innovativeproduct for suppressing chronic, severe cough in patients with underlying lungdisease. In its third programme, Verona Pharma is investigating novelanti-inflammatory molecules, called NAIPs, for a wide range of respiratory andinflammatory diseases. About RPL554 for the treatment of COPD and Asthma Verona's lead drug, RPL554, is a dual phosphodiesterase (PDE) 3 and 4 inhibitorbeing developed as a novel treatment for chronic obstructive airways diseasesuch as COPD and asthma with bronchodilator and anti-inflammatory effects. Botheffects are essential to improve symptoms in patients with COPD or asthma.RPL554 is currently in Phase II for both diseases. COPD is a chronic lung disease with significant unmet need for which currenttreatment is far from optimal, as it often has unwanted side-effects and/orlimited effectiveness. COPD is most commonly characterised by fixed airflowobstruction and chronic airways inflammation resulting from exposure toirritants like tobacco smoke. Asthma, which remains one of the most commonchronic diseases in the world, is characterised by recurrent breathing problemsand symptoms such as breathlessness, wheezing, chest tightness, and coughing.The market for COPD and asthma drugs is currently estimated to be GBP20 billion[source: visiongain].