(1888PressRelease)
May 26, 2009 - Under the terms of the collaboration which uses Vernalis’ proprietary fragment and structure-based drug discovery platform on this undisclosed cancer target, Vernalis will receive fees and a share in the downstream success of the product in the form of milestones and royalties on sales, the terms of which are not disclosed. Vernalis and Servier already have an existing collaborative agreement to develop two promising oncology targets involved in protein-protein interactions.
Ian Garland, CEO of Vernalis, commented: “This latest collaboration with Servier confirms our excellent working relationship and Servier’s recognition of the quality of our fragment and structure-based drug discovery platform. We are currently using this platform to progress two promising oncology targets involved in protein-protein interactions under our existing collaboration, as well as a number of our own internal research programmes. “
Emmanuel Canet, MD, PhD, President Servier Research and Development, added : “We are benefiting significantly from our existing relationship with Vernalis as part of our strategy to increase our efforts in the development of novel anti-cancer therapeutic approaches. This new collaboration will further expedite the discovery of innovative compounds with potential use in therapeutic indications with high unmet medical need.”
“Cancer represents a major cause of mortality worldwide and Servier is committed to providing patients with novel therapeutic approaches for treating these devastating diseases. We are confident that this new collaboration with Vernalis will further complement our research activities and help us to reach our objectives” added Bernard Marchand, PhD, General Manager of Servier Research.
Vernalis plc
Ian Garland, Chief Executive Officer
David Mackney, Chief Financial Officer
+44 (0) 118 977 3133
Brunswick Group
Jon Coles
Justine McIlroy
+44 (0) 20 7404 5959
About Vernalis
Vernalis is a development stage pharmaceutical company developing a pipeline of clinical and early stage programmes. The company currently has seven product candidates in clinical development (two of which are partnered) and two programmes in pre-clinical trials (one with a partner) and other competitive research programmes. Our collaborations are with leading, global pharmaceutical companies including Biogen Idec, Novartis, Servier, Chiesi, Menarini and Endo.
For further information about Vernalis, please visit www.vernalis.com.
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