Vernalis and Tris Pharma to work on cough drugs

UK pharmaceutical firm Vernalis has struck a deal with US group Tris Pharma to develop products for the US prescription cough and cold market.

Vernalis has also raised approximately £65.9 million by way of a share placing to develop and commercialise products under the licensing agreement with Tris.

Under the deal Tris, which is based in Monmouth, New Jersey, will work on as many as six new drug applications (NDAs) on behalf of Vernalis.

Vernalis will pay development milestones to Tris on each product right through clinical development. The firm will then acquire and commercialise these products on approval in the US.

"The US cough and cold market has been ripe for innovation and when you consider that market research shows most adults prefer long lasting relief in the form of a liquid, rather than solid dose, our technology is well positioned to address this market," said Ketan Mehta, Tris chief executive officer.

Posted by Ben Evans