Interest in shares in Vernali

RNS Number : 9797W

GlaxoSmithKline PLC

06 August 2009

 



Notifiable Share Interest in Vernalis plc ("Vernalis")

GlaxoSmithKline plc ("GSK") announces that on 5 August 2009, SmithKline Beecham Corporation, a wholly owned subsidiary of GSK, agreed to subscribe for 2,040,542 ordinary shares in Vernalis (representing 3.39% of the enlarged share capital of Vernalis) for an aggregate subscription price of £1.77 million ($3 million). Vernalis plc is a development stage pharmaceutical company whose shares are traded on the London Stock Exchange..

The subscription is being made in connection with a collaboration, option and license agreement reached between the two companies, relating to a Vernalis research programme in oncology. An up-front payment in cash of $3 million was also made to Vernalis plc on signing of the agreement.

S M Bicknell

Company Secretary

5 August 2009

Enquiries:
UK Media enquiries:	Philip Thomson	[phone]
	David Outhwaite	[phone]
	Stephen Rea	[phone]
	Alexandra Harrison	[phone]
US Media enquiries:	Nancy Pekarek	[phone]
	Mary Anne Rhyne	[phone]
	Kevin Colgan	[phone]
	Lisa Behrens	[phone]
European Analyst/Investor enquiries:	David Mawdsley	[phone]
	Sally Ferguson	[phone]
	Gary Davies	[phone]
US Analyst/ Investor enquiries:	Tom Curry	[phone]
	Jen Hill Baxter	[phone]

 

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