StockMarketWire.com - Vernalis reports that together with its partner, Biogen Idec it has discontinued development of V2006/BIIB014, also known as vipadenant, in favour of the alternate compound, A2A as a treatment for Parkinson's disease.

Vernalis and Biogen Idec expect to progress the next generation compound into Phase I clinical studies in early 2011.

Biogen Idec will continue to fund all development costs under the collaboration and Vernalis can earn milestones and royalties on the successful development and commercialisation of the next generation compound to the extent that milestones have not already been paid for vipadenant.

Ian Garland, CEO of Vernalis comments: "We are, of course, disappointed that development of vipadenant will be discontinued but are encouraged that Biogen Idec is to develop Vernalis' next generation compound as a potential novel treatment for this neurodegenerative disease."

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