InvestorsHub Logo

DewDiligence

04/27/17 10:27 AM

#210905 RE: ghmm #210779

VRNA—(Verona Pharma/VRP.L)—sells 6.67M* ADS@$13.50 in Nasdaq IPO:

http://www.renaissancecapital.com/IPO-Center/News/47548/Verona-Pharma-prices-IPO-at-$13.50

Business description from Form-F1 filing (https://www.sec.gov/Archives/edgar/data/1657312/000104746917002313/a2231519zf-1.htm#cw70301_business ):

We are a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapeutics for the treatment of respiratory diseases with significant unmet medical needs. Our product candidate, RPL554, is a first-in-class, inhaled, dual inhibitor of the enzymes phosphodiesterase 3 and 4, or PDE3 and PDE4, that acts as both a bronchodilator and an anti-inflammatory agent in a single compound. We are not aware of any therapy in a single compound in clinical development or approved by the U.S. Food and Drug Administration, or FDA, or the European Medicines Agency, or EMA, for the treatment of respiratory diseases that acts as both a bronchodilator and anti-inflammatory agent. We believe RPL554 has the potential to be the first novel class of bronchodilator in over 40 years. We have completed eight Phase 1 and 2a clinical trials for RPL554, with 282 subjects enrolled. In our clinical trials, treatment with RPL554 has been observed to result in statistically significant improvements in lung function as compared to placebo.

We are developing RPL554 for the treatment of patients with chronic obstructive pulmonary disease, or COPD, and for the treatment of patients with cystic fibrosis, or CF. We believe RPL554, if approved, has the potential to become an important and novel treatment and standard of care for these patients. We may also explore, alone or with a collaborator, the development of RPL554 to treat asthma and other respiratory diseases.

*Assuming exercise of underwriter’s option.