Vernalis Message Board - Msg: 23858458

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Biotech / Medical : Vernalis

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From: nigel bates	9/6/2007 12:35:27 PM
	of 20

Vernalis receives milestone payment in Hsp90 inhibitor collaboration 3 September 2007 WINNERSH, U.K., 3 September 2007 -- Vernalis plc (LSE: VER) today announced the achievement of a milestone under the company’s joint research and development collaboration with Novartis on the oncology target Hsp90. The milestone payment of $1.5 million was triggered by the start of Phase I clinical trials of a Vernalis compound in a range of solid tumours and liquid cancers. Simon Sturge, CEO of Vernalis said “We are delighted that our programme with Novartis has progressed to the next stage with the first compound from the collaboration entering human testing. Inhibition of Hsp90 is receiving increasing attention in the fight against cancer and our collaboration with Novartis continues to deliver exciting new treatment opportunities.” 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...

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