Vernalis plc Announces Progress on Its Oncology Hsp90 Programme
Monday November 20, 2:00 am ET
WINNERSH, England, Nov. 20 /PRNewswire-FirstCall/ -- Vernalis plc (LSE: VER, Nasdaq: VNLS), a specialty bio-pharmaceutical and drug development company, today announced that Novartis has selected a second compound as a preclinical development candidate under the joint research and development collaboration on the oncology target Heat shock protein 90 (Hsp90). This second candidate, an oral follow on to an intra-venous (IV) compound, was discovered using Vernalis' fragment based drug discovery platform. Under the terms of the collaboration, Novartis will make a milestone payment of $1.5 million to Vernalis.
"Inhibition of Hsp90 is receiving increasing attention as a novel anticancer treatment with broad therapeutic potential for the treatment of patients with both solid tumors and haematologic cancers," said Simon Sturge, CEO of Vernalis. "Our collaboration with Novartis, a world leader in oncology, continues to deliver exciting new cancer treatment opportunities."
Enquiries:
Vernalis plc +44 (0) 118 977 3133
Simon Sturge, Chief Executive Officer
Tony Weir, Chief Financial Officer
Julia Wilson, Head of Corporate Communications
Brunswick Group +44 (0) 20 7404 5959
Jon Coles
Justine McIlroy
Lazar Partners Ltd
Gregory Gin 212-867-1762
Notes to Editors
Background to Vernalis' Hsp90 Programme
The Vernalis Hsp90 programme is the result of a collaboration established in March 2002 with Cancer Research Technology Ltd (CRT) -- formerly Cancer Research Ventures Ltd -- and The Institute of Cancer Research (The Institute), building on studies funded by The Institute, Cancer Research UK and Wellcome Trust. Under the agreement Vernalis will pay CRT and The Institute a proportion of its revenues from the agreement with Novartis.
About Hsp90
Inhibition of Hsp90 is believed to have significant potential in the treatment of a broad range of cancers. The scientific rationale for Hsp90 as a therapeutic cancer target is based on the hypothesis that many of the signalling proteins that behave aberrantly in cancer cells require Hsp90 as a chaperone molecule to ensure that they are maintained in an active form. In addition, many of the proteins stabilised by Hsp90 are oncoproteins and cell-signalling proteins important in cancer cell proliferation and cancer cell survival. Thus Hsp90, a single molecular target that is a central integrator of multiple pathways important to cancer, is an ideal novel target for oncologic therapy.
About Vernalis
Vernalis is a speciality bio-pharmaceutical company focused on products marketed to specialist neurologists. The company has two marketed products, Frova® and Apokyn®, and a development pipeline focused on neurology and central nervous system disorders. The company has seven products in clinical development and collaborations with leading, global pharmaceutical companies including Novartis, Biogen Idec and Serono. Vernalis has established a US commercial operation to promote Apokyn® and co-promote Frova® alongside its North American licensing partner, Endo Pharmaceuticals, progressing the company towards its goal of becoming a sustainable, self-funding, R&D-driven, speciality bio-pharmaceutical company. For further information about Vernalis, please visit: vernalis.com |
