Verona Pharma plc is a biotechnology company. The Company is engaged in research, discovery and development of drugs for the treatment of chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD), asthma, allergic rhinitis (hay fever), and cough. The Company�s operating segments include clinical and basic research. The Company operates in two geographical segments: the United Kingdom and Canada. The Company�s product pipeline focuses on research, discovery and development of new therapeutic drugs for the treatment of chronic respiratory diseases. As on December 31, 2011, the Company had three products, RPL554, novel anti-inflammatory polysaccharides (NAIP) and VRP700. In February 2011, it completed the clinical trial at Centre for Human Drug Research at Leiden University of higher doses of RPL554 in patients with mild asthma.