Vernalis plc was a UK-based pharmaceuticals business headquartered in Winnersh, with research in Cambridge, and with a Berwyn, PA, US-based commercial operation, Vernalis Therapeutics Inc., focusing on the sales and marketing of slow-release formulations of prescription cough and cold medicines. Tuzistra XR (codeine polistirex/ chlorpheniramine polistirex) was the first launched product which arose from this strategy,^[1] however sales did not reach expectations.^[2] As a result, the strategy was abandoned and the company was put up for sale.^[3] Vernalis plc was listed on AIM until its acquisition by Ligand Holdings (UK) Ltd, a subsidiary of Ligand Pharmaceuticals, Inc. (NASDAQ:LGND) on 10 October 2018.^[4]

Vernalis plc (formerly known as British Biotech plc prior to 1 October 2003), arose from two company mergers.^[5] The first merger, with the privately held Cambridge-based RiboTargets Holdings plc, was completed in April 2003, and brought a structure-based drug discovery capability focused on novel cancer targets.^[6] The second merger, with Vernalis Group, was completed in September 2003 and brought a marketed product, frovatriptan, a clinical portfolio and drug discovery programmes focused on CNS disorders.^[7]

Its successful Cambridge, UK-based research facility, with expertise in fragment and structure-based drug discovery, continues as Vernalis Research. The company is engaged in research collaborations with pharmaceuticals industry partners, and maintains a pipeline of commercially partnered and non-partnered drug candidates in pre-clinical and clinical development.