FDAnews Drug Daily Bulletin

VERNALIS ACHIEVES MILESTONE IN ONCOLOGY COLLABORATION

Dec. 20, 2005
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Vernalis plc (LSE: VER, Nasdaq: VNLS) today announced that a compound has been selected as a preclinical development candidate by Novartis under the joint research and development collaboration on the oncology target Hsp90. The compound is planned to enter clinical testing in H2 2006. Under the terms of the collaboration a milestone payment of $1.5 million is due to Vernalis from Novartis.

Biotech Intelligence (http://www.biotech-intelligence.com/html/html/6d6b230c833f055cfcc5f4029967f9b7.html)