September 7, 2015

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

Interim Results

Verseon (AIM:VSN), a technology-based pharmaceutical company, today announces its Interim Results for the half-year ended 30 June 2015.

Financial and Operational Highlights

  • Raised US $100.0 million before expenses through an initial public offering (IPO) by placing 32.6 million shares of common stock on the Alternative Investment Market (AIM) of the London Stock Exchange.
  • Cash and cash equivalents as of June 30, 2015 was US $93.6 million.
  • Operating expenses for the first six months of 2015 were $3.6 million, but partially offset by a currency gain of $3.0 million. The resultant net loss for the first six months of 2015 was $0.6 million, or $0.005 per share, compared to a net loss of $2.1 million, or $0.082 per share, for the same period in 2014.
  • The Company continues to advance its three drug programs in anti-coagulation, treatment of diabetic macular edema and treatment of solid tumor cancers, while building infrastructure to support further growth of its drug pipeline.
  • In August 2015, the Company purchased a property through its wholly owned subsidiary, VRH1 LLC, for $8.7 million. This acquisition will facilitate the Company’s planned expansion of its drug discovery and development operations.

For further information

VerseonTel: +1 (510) 225 9000
Adityo Prakash, Chief Executive Officerwww.verseon.com
Cenkos (NOMAD & Broker)
Christopher Golden / Mark ConnellyTel: +44 (0) 20 7 397 8900

Financial and Business media enquiries

Abchurch Communications Limited
Jamie Hooper / Viktoria Langley / Alex ShawTel: +44 (0) 20 7398 7719

Trade and pharma media enquiries

Vane Percy RobertsTel: +44 (0) 1737 821 890
Simon Vane Percy

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

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