VC-backed Verona Pharma files for IPO

London-based Verona Pharma, a biopharmaceutical company, has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. Verona plans on listing the stock on the NASDAQ under the ticker symbol “VRNA.” Jefferies and Stifel are serving as the lead underwriters. Verona Pharma’s backers include Vivo Capital, OrbiMed, New Enterprise Associates, Abingworth, Henderson Global Investors and Aisling Capital.

PRESS RELEASE

4 April, 2017, London – Verona Pharma plc (AIM: VRP.L) (“Verona Pharma”), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapeutics for the treatment of respiratory diseases with significant unmet medical needs, announced today the filing of a registration statement on Form F-1 with the U.S. Securities Exchange Commission (“SEC”) relating to a proposed initial public offering of its American Depositary Shares (“ADSs”), representing ordinary shares, in the United States and a proposed concurrent private placement of its ordinary shares in Europe and other countries outside of the United States and Canada (together, the “Global Offering”).

All ADSs and ordinary shares to be sold in the Global Offering will be offered by Verona Pharma. The number of ordinary shares to be represented by each ADS, the number of ADSs and ordinary shares to be offered and the price range for the Global Offering have not yet been determined. Verona Pharma has applied to have its ADSs listed on the NASDAQ Global Market under the symbol “VRNA”. Upon completion of the Global Offering, Verona Pharma’s ordinary shares will continue to be admitted to trading on the AIM market of the London Stock Exchange under the symbol “VRP”.

Jefferies and Stifel are acting as joint book-running managers for the Global Offering. Wedbush PacGrow and SunTrust Robinson Humphrey are acting as co-managers.

The Global Offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to and describing the terms of the Global Offering may be obtained from the offices of Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at Prospectus_Department@Jefferies.com; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at (415) 364-2720, or by e-mail at syndprospectus@stifel.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.