Verona Pharma - CEO's Statement to Annual General Meeting
1st June 2012: At the Annual General Meeting of Verona Pharma being held today, the Company's Chief Executive Officer, Professor Michael Walker, will make the following statement
“Verona Pharma has experienced the most productive year in its history with respect to advancing the clinical development of its two drug programmes, RPL554 and VRP700. The Company has also raised capital and strengthened its Board.
Since the year end, the Company contracted the Medicines Evaluation Unit (MEU) of the University of Manchester to conduct a further Phase II trial to demonstrate the anti-inflammatory effects of RPL554 relevant to the treatment of patients with COPD. In addition, to broaden its knowledge of RPL554’s potential as a bronchodilator for the treatment of COPD, the Company is continuing to enrol further patients in the trial at the University of Tor Vergata in Rome. One of our key objectives for 2012 is to progress these studies and thus add further value to RPL554’s clinical data package.
With respect to the Company’s novel cough drug, VRP700, to build on the successful results of the clinical trial of the drug completed late last year, the Company is considering further studies to expand on the initial findings of VRP700 in patients with chronic severe cough.
On the corporate front, the Company has appointed Dr. Jan-Anders Karlsson as the Company’s new CEO, to take effect immediately following the AGM. Dr. Karlsson has considerable scientific and commercial experience in the pharmaceutical and biotechnology sector. I believe Dr. Karlsson’s experience will be invaluable to the Company as it moves its clinical programmes forward and continues to grow and expand. It is a pleasure to welcome Dr. Karlsson.
The Company continues to carefully manage its cost base.
In closing the Board would like to thank its shareholders, staff, advisors and collaborators for their continued support.”
Notes to Editors:
About Verona Pharma plc
Verona Pharma plc is developing first-in-class drugs to treat respiratory disease, such as COPD, asthma and chronic severe cough. The Company has three drug programmes, two of which are in Phase II. The lead programme, RPL554, is an innovative dual phosphodiesterase (PDE) 3/4 inhibitor with both bronchodilator and anti-inflammatory properties. VRP700 is an innovative product for suppressing chronic severe cough in patients with underlying lung disease. With its third programme, Verona is investigating novel anti-inflammatory molecules, called NAIPs, for a wide range of respiratory and inflammatory diseases. Verona Pharma is based in London. For more information, visit: www.veronapharma.com
For more information please contact:
Verona Pharma plc
Clive Page, Chairman
Michael Walker, CEO Tel: 020 7863 3300
WH Ireland Group Plc
Tel: 020 7220 1650
Melanie Toyne Sewell
Gemma Howe Tel: 020 7457 2020