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Vernalis, Servier Reach Oncology Research Milestones

August 4, 2014

Triggers €750K payment to Vernalis

Vernalis and Servier have achieved two milestones in their oncology discovery collaborations, triggering a payment of €750K to Vernalis.

The companies initiated their first collaboration in May 2007 utilizing Vernalis' fragment and structure-based drug discovery platform on several oncology targets, one of which is Bcl-2. Vernalis receives fees, development milestones, and royalties on potential sales. Financial terms were not disclosed.

Ian Garland, chief executive officer of Vernalis, said, "We are delighted to achieve these milestones, recognizing our very successful partnership with Servier and we look forward to further success from this relationship."

Jean Pierre Abastado, head of the Center for Therapeutic Innovation in Oncology at Servier, said, "Small molecules tailored against specific targets can have very high therapeutic potential. These new successes with Vernalis demonstrate the ability of this partnership to identify and characterize promising compounds which further extend Servier portfolio to treat cancer patients."

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