Vernalis and GlaxoSmithKline enter into a collaboration

Vernalis plc (LSE: VER) today announces that it has entered into an exclusive collaboration, option and license agreement with GlaxoSmithKline relating to a Vernalis research programme against an undisclosed oncology target. During the research phase Vernalis will continue to apply its expertise in Structure Based Drug Design (SBDD) technologies to progress novel development candidates against the target.

The deal is structured as a risk-sharing agreement, with Vernalis responsible for drug discovery activities and GSK for pre-clinical development. Upon IND filing, GSK will have the option to license all collaboration compounds and if this is exercised, will then be responsible for all future development and commercialisation activities.

Under the terms of the deal Vernalis will receive $6 million upon signing (including a $3 million equity subscription by GSK for 2,040,542 new ordinary shares in Vernalis at a subscription price of 87 pence per share) and is eligible to earn up-front and potential milestone payments in excess of $200 million and up to double digit royalties based on worldwide sales of an oncology product. Further milestones and royalties could be earned should products against the target be developed for indications outside of oncology.

“Earlier this year we set ourselves the goal of securing research collaborations to fund a substantial proportion of our research activities. In May we announced a second collaboration with Servier and today we are delighted to announce this licensing agreement with GSK,” said Ian Garland, Chief Executive Officer. “The risk sharing structure of today’s deal allows us to achieve our research funding goal but to also retain a significant upside from successful development of this novel Vernalis oncology programme. We are delighted to be working alongside GSK and to have another world leading pharmaceutical company endorse our technology and the quality of our work.”

Summer cheer - Agents' Party at Granta Park

The Granta Park ‘surf and turf’ barbeque at the new Riverside development went down a storm! Quite literally thunder and lightning moved the crowd in doors to take shelter and make use of the shiny new reception of number 2 Riverside. But rain did not stop play. Guests received a tour of the new 68,000 sq ft facilities available to let and suitable for any high-tech company looking to grow or to stream line their business.

“This is the second time we have hosted this sort of event for Agents here at Granta Park in the last 12 months. We’re obviously keen to get everyone here to keep them up to date but more than that it really is great to see everyone together having a good catch-up.” John Granger, Managing Director, Granta Park.

As well as the tour and a lovely barbeque there was a chance of winning several luxury prizes including dinner at Hotel du Vin. Those making use of the free bar were able to take the Granta Park commuter bus into the city centre at which point the sun began to shine again. A good time was had by all!

Headquarters Cambridge To Let/Rent

Are you looking for a Headquarters style office building in the Cambridge area? Do you need flexable office space that can grow with your business? Do you want to relocate to a science park that currently host some of the science and technology sectors top headquarters? if so then Granta Park could be your ideal location:

Headquarters Cambridge

Cambridgeshire Offices

Suite 2, The McClintock Building

The McClintock building is lake-side and situated in the heart of Granta Park. Suite 2 has easterly views across the lake looking on to Riverside.

We currently have a ground floor office available within the building offering approx 1090 sq ft of prime office accomodation.

Cambridshire Offices

Small/ Cheap Offices To Let Cambridge

New, attractive, flexible buildings.

• Small offices and laboratory styles available to let (rent)
  
• Suitable for small to medium-sized companies of 10 people or more.
• Short and medium term leases available on a multi-occupancy basis.
• Access to full package of amenities including commuter bus from Cambridge city centre, nursery, gym, café and restaurant.

Set within an area of mature woodland along side the River Granta with views of the village of Great Abington and Great Abington church.

The Riverside scheme will comprise three offices buildings, each of three floors, around an open courtyard.

The office development will provide 68,000 sq ft of net internal area with approximately 300 car parking space including parking for visitors. All building can be sub divided to provide smaller offices to let/rent

For more information Click - Offices To Let/Rent Cambridge

John Granger
Managing Director
01223 893 710
jgranger@mepc.com

Roz Bird
Marketing Manager
01223 895 031
rbird@mepc.com

or contact our joint agents:

Nick Short or Ben Cullen at Cushman and Wakefield on 0207 935 5000

Howard Westgate or Will Mooney at Jeffersons Commercial on 01223 315716

Flexible accomodation available in the Riverside

Riverside is made up three flexible buildings comprising of office and laboratory space. Riverside sits on the banks of the River Granta, which lead to 'The Backs'. Riverside must be seen to be belived! With uninterrupted views over the beautiful Cambridgeshire countryside each of the three buildings that make up Riverside can boast truly stunning views.

Offices to let

Vernalis and Servier new 3-year Collaboration

Vernalis plc (LSE: VER) and Servier, France’s largest privately-owned pharmaceutical company, today announced that they have signed a new three-year joint oncology collaboration, focused on the discovery of drugs for a new target.
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.