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Verona Pharma

VERONA PHARMA PLC - 2015 Annual Report and Accounts, Notice of AGM

Verona Pharma plc

("" or the "Company")Verona Pharma

2015 Annual Report and Accounts

and

Notice of AGM

– (AIM: VRP), the drug development company focused on first-in-class medicines to treat respiratory diseases, confirms that it has made available the Annual Report and Accounts for the year ended ("2015 Annual Report and Accounts"). The report is available online at: ., Cardiff03 June 2016Verona Pharma plc31 December 2015http://www.veronapharma.com/joomla/index.php/investors/financial-performance

A hard copy of the 2015 Annual Report and Accounts, the Notice of AGM ("AGM") and a Form of Proxy have been posted to Shareholders today.

The AGM is to be held at at the offices of offices of , 5th Floor, , Crosswall, EC3N 2SG11:00am on Monday27 June 2016Shakespeare Martineau LLPOne America SquareLondon

-Ends-

For further information please contact:

Notes to Editors

AboutVerona Pharma plc

is a -based clinical stage biopharmaceutical company focused on the development of innovative prescription medicines to treat respiratory diseases with significant unmet medical needs, such as chronic obstructive pulmonary disease (COPD), asthma and cystic fibrosis. Verona Pharma plcUK

lead drug, RPL554, is a first-in-class drug currently in phase II trials as a nebulised treatment for acute exacerbations of COPD in the hospital setting.  The drug is a dual phosphodiesterase (PDE) 3/4 inhibitor and therefore has both bronchodilator and anti-inflammatory effects, which are essential to the improvement of patients with COPD and asthma. Verona Pharma's

is also building a broader portfolio of RPL554-containing products to maximise its benefit to patients and its value.  This includes the very significant markets for COPD and asthma maintenance therapy.  The Company is also exploring the potential of the drug in different diseases, such as cystic fibrosis, where it is in pre-clinical testing and has recently received a Venture and Innovation Award from the .Verona PharmaCystic Fibrosis Trust

About Chronic Obstructive Pulmonary Disease (COPD)

Sixty-five million people worldwide suffer from moderate to severe COPD and the (WHO) expects COPD to be the 3rd leading cause of death globally by 2020.  It is the only major chronic disease with increasing mortality.  Currently available drugs are aimed at long-term maintenance therapy, with the market dominated by large pharma.  Despite the wide availability of these therapies, COPD patients suffer acute periods of worsening symptoms (exacerbations), which cause, in the US alone, some 1.5 million A&E visits, 726,000 hospitalisations and 120,000 deaths per annum.World Health Organisation

Bronchodilating therapy is considered to be the standard of care, and agents can be administered via handheld devices such as metered dose inhaler (MDI), dry powder inhaler (DPI) and by nebulisers.  The nebulised bronchodilator market was worth about in 2014 in the US.  RPL554 is being developed by as an add-on therapy to the “Standard of Care” with the objectives of providing rapid and pronounced improvement in lung function, reduced symptoms and both shortened duration of hospital stays and reduced re-admission rates 30 days after discharge from hospital.  Studies to date on RPL554 have demonstrated that it has a strongly differentiated 3-way mode of action, being: (1) bronchodilation (the relaxation of smooth muscle in the airway); (2) anti-inflammatory effects on cells and (3) ion channel activation in epithelial cells, with increased mucociliary clearance of the airway.$1 billion1Verona Pharma

market research 20141IMS Consulting Group

Tel: +44 (0)20 3283 4200

, Chief Executive Officer

N+1 Singer                                   Tel: +44 (0)20 7496 3000

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FTI Consulting                               Tel: +44 (0)20 3727 1000

 /Verona Pharma plcJan-Anders KarlssonAubrey PowellJen BoorerJulia PhillipsSimon Conway
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