27th Nov 2006 07:00
Verona Pharma plc advances RPL554 drug development project for treatment of respiratory diseases
Verona Pharma plc (AIM:VRP) ("Verona Pharma" or the "Company"), the life sciences company developing new therapeutic drugs for the treatment of allergic rhinitis (hay fever) and other chronic respiratory and inflammatory diseases, is pleased to announce that it has signed a contract with MedPharm Ltd of Guildford, UK to develop a formulation of its clinical candidate RPL554 for use in upcoming preclinical and clinical regulatory studies. The work is scheduled to begin immediately. The delivery of the novel formulation is anticipated to be early in the first quarter of 2007.
The Company is also pleased to announce the extension of an existing research agreement with King's College London for ongoing research related to its RL554 project.
Announcing these contracts, Verona Pharma CEO Professor Michael Walker commented that "the scientists at King's College London and MedPharm are established leaders in the fields of drug discovery, delivery and formulation. Verona Pharma will benefit from their expertise and assistance in progressing Verona Pharma's development and discovery efforts."
RPL554 is a novel long-acting inhibitor of both the phosphodiesterase 3 and phosphodiesterase 4 enzymes that are known to be implicated in the development and progression of respiratory diseases such as hay fever and asthma. This drug, which is being developed as a topical product for the most prevalent respiratory diseases in the industrialised world, will target a market that is estimated to be approximately US$20 billion. There is unmet medical need in this market since many of the available treatments have either unwanted side effects or limited effectiveness.
ENDSFor further information:Verona Pharma plc
Professor Clive Page, Chairman 079 7150 4931
www.veronapharma.comHanson Westhouse LLPTim Feather 01132 462 610Notes for Editors:About Verona Pharma plc
Verona Pharma plc is an AIM-listed drug discovery company that is focused on finding new therapeutic drugs for the treatment of allergic rhinitis (hay fever) and other chronic respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD), as well as chronic inflammatory diseases. The Company is currently developing a long-acting bronchodilator/ anti-inflammatory drug (belonging to a class of drugs known as mixed phosphodiesterase (PDE) 3/4 inhibitors) that could be rapidly brought to clinical proof-of-concept for the treatment of hay fever and be subsequently developed for the treatment of asthma. Verona Pharma is also exploiting novel polysaccharides as potential anti-inflammatory drugs for the treatment of respiratory allergies, asthma and other inflammatory diseases.
About MedPharm Ltd
MedPharm is a private drug delivery and contract service company committed to the creation and development of novel systems, particularly for topical (skin, nail, mucous membranes) and airway delivery systems. The company projects range from simple feasibility tests, dosage design and optimization, through to preparation of GMP clinical supplies for Phase I/II trials with guaranteed smooth transfer through to manufacturing sites. MedPharm has GLP accredited laboratories in Guildford Surrey, UK and a GMP facility in the South of England. For further information about MedPharm, please contact Dr. Andrew Muddle, CEO at +44 (0)16 0881 9267, or email [email protected]. Further information about the company can also be found at: http://www.medpharm.co.uk.
About King's College London
King's College London is the fourth oldest university in England with more than 13,700 undergraduates and nearly 5,600 graduate students in nine schools of study based at five London campuses. It is a member of the Russell Group: a coalition of the UK's major research-based universities. The College has had 24 of its subject-areas awarded the highest rating of 5* and 5 for research quality, demonstrating excellence at an international level, and it has recently received an excellent result in its audit by the Quality Assurance Agency. It has a particularly distinguished reputation in the humanities, law, international relations, medicine, nursing and the sciences, and has played a major role in many of the advances that have shaped modern life, such as the discovery of the structure of DNA. It is the largest centre for the education of healthcare professionals in Europe and is home to four Medical Research Council Centres - more than any other university. The College is in the top group of UK universities for research earnings, with income from grants and contracts of more than ‚£100 million, and has an annual turnover of more than ‚£ 363 million. For further information, please contact the Public Relations Office, King's College London, Tel: 020 7848 3202 Email: [email protected].
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