6th September 2016
Vernalis plc and Tris Pharma, Inc. (“Tris”) are pleased to announce that the U.S. Food and Drug Administration (“FDA”) has accepted the CCP-07 New Drug Application (“NDA”) for full review. This triggers a milestone payment from Vernalis to Tris.
The FDA has set a Prescription Drug User Fee Act (PDUFA) target date for conclusion of its review of 20 April 2017.
Under the exclusive licensing and collaboration agreement announced in February 2012, Tris is developing, up to six unique extended release equivalents to existing immediate release prescription cough cold treatments for the US market. CCP-07 is the second product from this pipeline to be accepted for full NDA review. The first product, Tuzistra®XR was approved by the FDA in April 2015 and was launched by Vernalis in September 2015, by a dedicated sales force.
Ian Garland, CEO of Vernalis commented “Today’s announcement confirms CCP-07 is on track for potential launch ahead of the 2017-18 cough cold season and we remain extremely excited about the commercial prospects of this cough cold franchise”.
Ketan Mehta, CEO of Tris commented, “This is our second NDA for Vernalis and Tris is excited with the continued progress and look forward to an expanded cough/cold commercial footprint.”
This announcement contains inside information.
Notes to Editors
Vernalis is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra®XR targeting the US prescription cough cold market; MOXATAG®, a once-a-day formulation of the antibiotic, amoxicillin, indicated for the treatment of tonsillitis and/or pharyngitis secondary to Streptococcus pyogenes and frovatriptan for the acute treatment of migraine. It has an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough cold market as well as eight programmes in its NCE development pipeline. Vernalis has also significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products have been endorsed over the last five years by collaborations with leading pharmaceutical companies, including AKP, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier Taisho and Tris.
For further information about Vernalis, please visit www.vernalis.com
Vernalis Forward-Looking Statement
This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of frovatriptan and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.