Vernalis Initiates Phase I Trial of V158866

16 March 2011

LSE: VER

Vernalis Initiates Phase I Trial of V158866 for Pain

Vernalis plc today announces it has dosed the first subjects in a Phase I trial of V158866, its fatty acid amide hydrolase (FAAH) inhibitor, a novel target with potential application in a wide range of pain and other indications. 

The double-blind, placebo controlled study investigating single and multiple ascending doses is being conducted in healthy male volunteers. The objective of the study is to identify doses of V158866 that are both safe and well tolerated and to measure the compound's effect on FAAH activity and endocannabinoid levels. 

Ian Garland, CEO of Vernalis commented "The progression of V158866 into Phase I marks another excellent achievement by our in-house research and development teams and provides us with an additional potentially high value development programme in a core areas of focus for the Company."

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About Vernalis

Vernalis is a development stage pharmaceutical company with significant expertise in taking promising product candidates along a commercially-focused path to market. The Group has one marketed product, frovatriptan for the acute treatment of migraine, and nine candidates in development, seven of which are designated priority programmes. Three of these priority programmes are currently unpartnered and four are partnered. Pipeline programmes are derived from both our own research activities where we have significant expertise in fragment and structure based drug discovery, as well as from collaborations. Our technologies, capabilities and products are endorsed by collaborations with Biogen Idec, Chiesi, Endo, GSK, Lundbeck, Menarini, Novartis and Servier.

For further information about Vernalis, please visit www.vernalis.com

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.