Michael Austwick Joins Verona Pharma as Non-Executive Director

Rhea-AI Summary

Verona Pharma plc (Nasdaq: VRNA) has announced the appointment of Mr. Michael Austwick as a Non-Executive Director, bringing extensive experience in the biopharmaceutical industry and respiratory expertise. The company also reported the resignation of Mr. Rishi Gupta as a Non-Executive Director. Verona Pharma is preparing for the US launch of ensifentrine, pending approval.

LONDON and RALEIGH, N.C., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma”) announces Mr. Michael Austwick has today joined the board as a Non-Executive Director.

Mr. Austwick brings a wealth of strategic and operational experience in the biopharmaceutical industry including more than 15 years of respiratory expertise in leadership roles across the US, China, Europe and Japan. Most recently, he served as CEO at Vectura, and previously as Nordic General Manager and Head of the Global Respiratory Franchise at Novartis and as Head of US Respiratory and Vice President Global Inhaled Respiratory at AstraZeneca. Mr. Austwick has led the development and commercialization of more than 10 brands, covering inhaled and biologic assets at a country and global level. He has an MSc in Information Management from the University of Hull and a BSc in Management and Systems from City University, London.

“We are delighted to welcome Michael to the Board,” said Dr. David Ebsworth, Chairperson of Verona Pharma. “His deep respiratory development and commercialization expertise, spanning the full value chain, will add to the breadth of experience of the Board as we prepare for the US launch of ensifentrine, if approved, later this year.”

Verona Pharma also announces that Mr. Rishi Gupta, Partner at OrbiMed, has stepped down from the board as a Non-Executive Director effective January 31, 2024.

Dr. Ebsworth added: “We would like to thank Rishi for his numerous contributions to Verona Pharma’s successful development over the past 7 years. During this time, he has overseen the Company’s listing on NASDAQ, the completion of several financings and the progression of our novel product candidate, ensifentrine, through Phase 3 clinical trials into review for potential US approval.”

For further information please contact:

Verona Pharma plc	US Tel: +1-833-417-0262 UK Tel: +44 (0)203 283 4200
Victoria Stewart, Senior Director of Investor Relations and Communications	IR@veronapharma.com
Argot Partners US Investor Enquiries	Tel: +1-212-600-1902 verona@argotpartners.com
Ten Bridge Communications International / US Media Enquiries	Tel: +1-312-523-5016 tbcverona@tenbridgecommunications.com
Leslie Humbel

About Verona Pharma

Verona Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of chronic respiratory diseases with significant unmet medical needs. If successfully developed and approved, Verona Pharma’s product candidate, ensifentrine, has the potential to become the first non-steroidal therapy for the treatment of respiratory diseases that combines bronchodilator and anti-inflammatory activities in one molecule. The Company has evaluated nebulized ensifentrine in its Phase 3 clinical program ENHANCE (“Ensifentrine as a Novel inHAled Nebulized COPD thErapy”) for COPD maintenance treatment. Ensifentrine met the primary endpoint in both ENHANCE-1 and ENHANCE-2 trials demonstrating statistically significant and clinically meaningful improvements in lung function. In addition, ensifentrine substantially reduced the rate and risk of COPD exacerbations in pooled analysis from ENHANCE-1 and ENHANCE-2. In the third quarter of 2023, the US Food and Drug Administration accepted for review the Company’s NDA for ensifentrine for the maintenance treatment of patients with COPD and assigned a PDUFA target action date of June 26, 2024. Two additional formulations of ensifentrine have been evaluated in Phase 2 trials for the treatment of COPD: dry powder inhaler (“DPI”) and pressurized metered-dose inhaler (“pMDI”). Ensifentrine has potential applications in cystic fibrosis, non-cystic fibrosis bronchiectasis, asthma and other respiratory diseases. For more information, please visit www.veronapharma.com

Forward-Looking Statements

This press release contains forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from our expectations expressed or implied by the forward-looking statements. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

FAQ

Who joined the board of Verona Pharma as a Non-Executive Director?

Mr. Michael Austwick has joined the board as a Non-Executive Director.

What is the ticker symbol for Verona Pharma?

The ticker symbol for Verona Pharma is VRNA.

What is the current focus of Verona Pharma?

Verona Pharma is preparing for the US launch of ensifentrine, pending approval.

Who resigned from the board of Verona Pharma?

Mr. Rishi Gupta has stepped down from the board as a Non-Executive Director.