13th Nov 2007 07:00
Verona Pharma plc ("Verona Pharma" or the "Company") AIM-quoted Verona Pharma seeks drug treatment for coughing
November 13, 2007: Verona Pharma, the AIM-quoted drug discovery company that recently announced a key advance in studies on its potentially groundbreaking antiasthma treatment, is to expand its drug development portfolio with the launch of another development programme for a drug to deal with coughing.
The programme will address the problem that while unexplained cough is one of the most common medical complaints, there remains no truly effective treatment for what can be a very debilitating condition.
Verona Pharma is focused on discovering and developing drug treatments for respiratory diseases, which globally are costing an estimated US$20 billion per annum to treat.
The Company has acquired significant know-how from a leading North American biotechnology company in return for a low, single digit royalty on all future milestone payments resulting from any licensing agreements. It plans to work through preclinical studies for this programme during 2008.
Verona Pharma Chief Executive, Dr Michael Walker, said: "We are of course delighted to have secured the rights to this know-how, which further fulfils our strategy of developing a pipeline of drug discovery and development opportunities in respiratory disease."
Last week, Verona Pharma announced it had commenced the next stage in an experimental inhalation toxicology study to demonstrate the safety of its novel antiasthma and hay fever drug treatment, before moving on to proof of concept clinical trials in the first half of next year.
The Company is also working to exploit novel polysaccharides as potential anti-inflammatory drugs for the treatment of respiratory allergies, asthma and other inflammatory diseases.
For further information contact:
Professor Clive Page, Chairman, Verona Pharma plc: 07971 504931
David Youngman, WH Ireland Ltd: 0161 832 2174
Allan Piper, First City Financial Public Relations: 020 7242 2666
Background information follows:
About Verona Pharma plc (www.veronapharma.com)
Verona Pharma plc (AIM:VRP) is an AIM-quoted 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.
Respiratory diseases are among the most prevalent diseases in the industrialised world, but many of the available treatments have unwanted side effects, and/or limited effectiveness.
The company was admitted to AIM in September 2006, and is run by two of the world experts in pharmacology and drug discovery. Dr Michael Walker is Emeritus Professor of Anesthesiology, Pharmacology and Therapeutics at the University of British Columbia, and a founder of other biotech, and biotech related companies. Chairman Dr Clive Page is a Professor of Pharmacology at King's College London, and an internationally-recognised authority in lung diseases and inflammation.
Verona Pharma is currently developing RPL554, 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 asthma.
RPL554 was invented by Sir David Jack, the former GlaxoSmithKline Research Director who pioneered many of the leading respiratory drugs already in use. As a PDE3/4 inhibitor, RPL554 targets the underlying cause of respiratory diseases by dilating the bronchial passages and blocking inflammation through a non-steroid or beta agonist receptor. Verona Pharma is also exploiting novel polysaccharides as potential anti-inflammatory drugs for the treatment of respiratory allergies, asthma and other inflammatory diseases.
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