According to Verona Pharma, the company spent nearly £1 million in 2010 on development of its lead product, RPL554, an inhaled PDE3/4 inhibitor for the treatment of asthma, COPD, and allergic rhinitis. Those R&D costs contributed to a £1.89 million loss for the year.
Verona’s preliminary unaudited results statement reports that the company is in discussions with potential partners for RPL554 and is evaluating potential delivery formats, including the use of pMDI and DPI devices. Clinical trials have so far been conducted using a nebulized inhalation solution.
The joint statement by CEO Michael J. A. Walker and Chair Clive P. Page offers a positive outlook for the product: “All current evidence indicates that RPL554 has the potential to be a significant new respiratory drug that could capture a significant market share. Verona Pharma is optimistic that it will find a suitable partner to assist it in taking the drug to market.”
Read the statement.
