Verona rises as it inks $219 million deal for COPD candidate in China

Shares of UK-based Verona Pharma (Nasdaq: VRNA) were up 20% at $7.89 pre-market as it announced an agreement granting Nuance Pharma, a Shanghai-based specialty pharmaceutical company, the rights to develop and commercialize ensifentrine in Greater China (mainland China, Taiwan, Hong Kong and Macau).

Ensifentrine is an investigational, first-in-class, inhaled, dual inhibitor of the enzymes phosphodiesterase 3 and 4 (PDE3 and PDE4). It is in Phase III development as a maintenance treatment of chronic obstructive pulmonary disease (COPD).

“We are extremely excited about the formation of this strategic partnership with Nuance Pharma to further the development and future commercialization of ensifentrine in Greater China,” said David Zaccardelli, president and chief executive of Verona Pharma, adding: “Nuance Pharma’s highly talented leadership team has deep experience developing and commercializing respiratory products across China and we look forward to working with them to bring ensifentrine to this important market.”