Verona Pharma and Nuance Pharma Announce $219 Million Strategic Collaboration to Develop and Commercialize Ensifentrine in Greater China.
ENPNewswire-June 11, 2021--Verona Pharma and Nuance Pharma Announce $219 Million Strategic Collaboration to Develop and Commercialize Ensifentrine in Greater China
(C)2021 ENPublishing - http://www.enpublishing.co.uk
Release date- 10062021 - LONDON and RALEIGH, N.C. and SHANGHAI, China - Verona Pharma plc (Nasdaq: VRNA) ('Verona Pharma') and Nuance Pharma Limited ('Nuance Pharma'), announce that the companies have entered into an agreement granting Nuance Pharma, a Shanghai-based specialty pharmaceutical company, the rights to develop and commercialize ensifentrine in Greater China (mainland China, Taiwan, Hong Kong and Macau). Ensifentrine is an investigational, first-in-class, inhaled, dual inhibitor of the enzymes phosphodiesterase 3 and 4 ('PDE3' and 'PDE4'). This dual inhibition enables it to combine both bronchodilator and anti-inflammatory effects in one compound. Verona Pharma is currently conducting a global Phase 3 program evaluating ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease ('COPD'), with sites in the US, Europe and South Korea.
'We are extremely excited about the formation of this strategic partnership with Nuance Pharma to further the development and future commercialization of ensifentrine in Greater China,' said David Zaccardelli, Pharm. D., President and CEO of Verona Pharma. 'Nuance Pharma's highly talented leadership team has deep experience developing and commercializing respiratory products across China and we look forward to working with them to bring ensifentrine to this important market.'
'Ensifentrine is an ideal fit for Nuance Pharma's portfolio, given our focus on developing and commercializing innovative products for the Chinese market,' commented Mark G. Lotter, CEO and Co-Founder of Nuance Biotech. 'With proven expertise in developing and commercializing global brands, including many leading respiratory products, I have confidence in the Nuance Pharma team's ability to develop and commercialize ensifentrine in Greater China.'
Under the terms of the agreement, Verona Pharma has granted Nuance Pharma the exclusive rights to develop and commercialize ensifentrine in Greater China. In return, Verona Pharma will receive an upfront payment of $25 million in cash and an equity interest currently valued at $15 million in Nuance Biotech, the parent company of Nuance Pharma. Verona Pharma is eligible to receive future milestone payments of up to $179 million that are triggered...
To continue reading
Request your trial