September 5, 2016

Verseon Corporation (“Verseon” or the “Company”)

Interim Results

Verseon (AIM:VSN), a technology-based pharmaceutical company, today announces its Interim Results for the six months ended 30 June 2016.

Strategic and financial highlights

  • All three ongoing drug programs, focusing on anticoagulation, diabetic macular edema, and solid tumor cancers, continue to make steady progress.
  • Key preclinical data for Verseon’s new class of anticoagulants were presented at various international conferences during the first half of 2016. These data form an important part of Verseon’s forthcoming regulatory filings to initiate clinical studies for this program.
  • Infrastructure and staffing have expanded in order to support current and upcoming drug programs.
  • As of June 30, 2016, total assets stood at $76.3 million, including cash, cash equivalents, and short-term investments at $62.6 million.
  • Operating expenses for the first six months of 2016 were $7.9 million. After a currency exchange loss of $1.6 million, the resultant net loss for the first half of 2016 was $9.3 million, or $0.061 per share.
-Ends-

For further information:

Verseon Corporation +1 (510) 225 9000
Arthur Shmurun / Amy Thai www.verseon.com
   
Cenkos (NOMAD and Broker) +44 (0) 20 7397 8900
Mark Connelly / Steve Cox www.cenkos.com
   

Financial and business media enquiries:

Buchanan +44 (0) 20 7466 5000
Henry Harrison-Topham / Sophie Cowles www.buchanan.uk.com

Notes to editors

Verseon is a pharmaceutical company that employs its proprietary, computational drug discovery platform to develop novel therapeutics for today's challenging diseases. The Company is applying its platform to a growing drug pipeline and has three active drug programs in the areas of anticoagulation, diabetic macular edema, and solid tumor cancers.

For more information, please visit: www.verseon.com

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Proprietary Platform

Consistently designs novel drug candidates that are unlikely to be found using conventional methods

 

Drug Programs

Multiple therapeutic areas, all with unmet (or poorly met) medical needs