BRIEF—Verona raises $200 million in private placement

UK-based Verona Pharma has raised approximately $200 million through a private placement of shares led by new investors RA Capital Management, Access Biotechnology, Perceptive Advisors, and others.

The firm plans to use the money to fund the Phase III ENHANCE trial, due to start in late 2020, in chronic obstructive pulmonary disease (COPD).

Verona’s lead candidate is ensifentrine (RPL554), a novel inhaled therapy which inhibits the enzymes phosphodiesterase 3 and 4 (PDE3 and PDE4).