Verona Pharma plc
("Verona Pharma" or the "Company")
Grant of Share Options
10 February 2016, Cardiff - Verona Pharma plc (AIM: VRP) announces that the
Board has on 9 February 2016 granted options over 14,900,000 ordinary shares
("Options") in the Company to one of its Directors and certain employees in
accordance with the terms of the Company's share option plans. Half of the
Options will vest on 9 February 2018 and the other half on 9 February 2019. The
Options have a ten-year exercise window from the date of grant.
Of the Options granted, 10,000,000 options have been granted to Dr. Jan-Anders
Karlsson, half of which have an exercise price of 4 pence per option and the
other half have an exercise price of 6.6 pence per option.
Dr. Karlsson's total beneficial interest in the Company remains 2,870,000
ordinary shares, representing 0.28% of the Company's issued share capital.
Following this grant, Dr. Karlsson holds options over 38,000,000 ordinary
shares, representing 3.76% of the Company's issued share capital, with a range
of exercise prices between 2.5 and 15 pence per option.
-Ends-
For further information please contact:
Verona Pharma plc Tel: +44 (0)20 3283 4200
Jan-Anders Karlsson, Chief Executive
Officer
N+1 Singer Tel: +44 (0)20 7496 3000
Aubrey Powell / Jen Boorer
FTI Consulting Tel: +44 (0)20 3727 1000
Simon Conway / Stephanie Cuthbert /
Natalie Garland-Collins
Notes to Editors
About Verona Pharma plc
Verona Pharma plc is a UK-based clinical stage biopharmaceutical company
focused on the development of innovative prescription medicines to treat
respiratory diseases with significant unmet medical needs, such as chronic
obstructive pulmonary disease (COPD), asthma and cystic fibrosis.
Verona Pharma's lead drug, RPL554, is a first-in-class drug currently in Phase
II trials as a nebulised treatment for acute exacerbations of COPD in the
hospital setting. The drug is a dual phosphodiesterase (PDE) 3/4 inhibitor and
therefore has both bronchodilator and anti-inflammatory effects, which are
essential to the improvement of patients with COPD and asthma.
Verona Pharma is also building a broader portfolio of RPL554-containing
products to maximise its benefit to patients and its value. This includes the
very significant markets for COPD and asthma maintenance therapy. The Company
is also exploring the potential of the drug in different diseases, such as
cystic fibrosis, where it is in pre-clinical testing and has received a Venture
and Innovation Award from the Cystic Fibrosis Trust.