Vernalis receives 1.5m dollar payment through Genentech collaboration

AIM-listed pharmaceuticals company Vernalis has received a 1.5m dollar payment under its drug discovery collaboration with Genentech, a member of the Roche group.

AIM-listed pharmaceuticals company Vernalis has received a 1.5m dollar payment under its drug discovery collaboration with Genentech, a member of the Roche group.

The collaboration, which commenced in January 2012, aims to discover novel small molecules against an undisclosed target utilising Vernalis' fragment and structure-based drug discovery platform.

Ian Garland, Chief Executive Officer of Vernalis, commented: "We are delighted to have achieved this success milestone under our collaboration with Genentech which further endorses the quality of our research group's work."

Vernalis' share price was up 1.59% to 24p at 11:38 on Monday.

Vernalis develops and commercialises low-risk late stage products for unmet medical need.

MF

Recommended

Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Don’t try to time the bottom – start buying good companies now
Investment strategy

Don’t try to time the bottom – start buying good companies now

Markets are having a rough time, so you may be tempted to wait to try to call the bottom and pick up some bargains. But that would be a mistake, says …
1 Jul 2022
Share tips of the week – 1 July
Share tips

Share tips of the week – 1 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
1 Jul 2022
Bunzl: boring is good for business
Share tips

Bunzl: boring is good for business

Food-service distribution company Bunzl is not a terribly exciting business, but it looks cheap and could be a great investment, says Rupert Hargreave…
30 Jun 2022

Most Popular

UK house prices are definitely cooling off – but are they heading for a fall?
House prices

UK house prices are definitely cooling off – but are they heading for a fall?

UK house prices hit a fresh high in June, but as interest rates start to rise, the market is cooling John Stepek assesses just how much of an effect h…
30 Jun 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
22 Jun 2022
Five dividend stocks to beat inflation
Share tips

Five dividend stocks to beat inflation

During periods of high inflation, dividend stocks tend to do better than the wider market. Here, Rupert Hargreaves pick five dividend stocks for incom…
30 Jun 2022