Verona Pharma has signed a new collaboration agreement with Scotland-based GlycoMar.
The respiratory disease treatments developer has been researching anti-inflammatory polysaccharide which are anti-inflammatory but without the concomitant anti-coagulant effect of similar treatments. This research is based on research on marine organisms such as starfish.
Verona has identified a number of other compounds that it has sourced from GlycoMar, which focuses on the development of marine-derived treatments as well as offering contract research services. It undertakes proof of concept studies in order to identify a suitable candidate. So it is still early days.
The shares rose 0.25p to 4.25p, valuing Verona at £8.76m.
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