Vectura announces US collaboration agreement for its combination asthma therapy - VR315
21 Dec 2006
Vectura announces US collaboration agreement with leading international pharmaceutical company for combination Asthma therapy
Chippenham, UK – 21 December 2006: Vectura Group plc (LSE: VEC) ("Vectura") today announces that it has signed a US collaboration, development and licence agreement with a leading international pharmaceutical company for Vectura's VR315 product, a combination asthma therapy. VR315 will be developed as a generic combination product using Vectura's GyroHaler® dry powder inhaler (DPI). This follows the announcement in April 2006 that Vectura had signed an agreement for VR315 covering the European market.
Under the terms of the agreement, Vectura will be responsible for the product development of VR315 for the US market and for establishing the commercial manufacture and supply of the GyroHaler® device for the product. Vectura's partner will be responsible for the clinical development, manufacture and marketing of the product for the US market.
Vectura will receive a share of profits from all VR315 US sales, as well as up to $63 million upon achievement of pre-determined development and commercial milestones. Costs for the US development of VR315 will be shared on a defined basis.
Combination therapy is the biggest and fastest growing sector of the respiratory market with worldwide annual sales currently exceeding $8 billion and US annual sales estimated to exceed $4 billion.
Vectura's GyroHaler® is a multi-dose DPI developed with the aim of providing a number of advantages over other inhaler devices. These include better convenience for patients, more consistent, precise dosing and excellent moisture protection, a key distinguishing factor in inhaled drugs which are in a fine powder form.
Dr Chris Blackwell, Chief Executive of Vectura, said:
"This deal provides Vectura with another significant development product for the US respiratory market and is synergistic with our European agreement for VR315. It is further endorsement of the value Vectura can add in respiratory product development, both with our product development expertise and with our delivery devices. We are pleased to have met our commitment to deliver this major licensing deal."
Enquiries
Vectura Group plc +44 (0) 1249 667 700
Chris Blackwell, Chief Executive
Anne Hyland, Chief Financial Officer
Financial Dynamics +44 (0)20 7269 7156
David Yates
Notes for Editors:
About Vectura
Vectura's principal focus is the development of a range of inhaled drugs for the treatment of both lung diseases and other conditions where optimised delivery via the lungs can provide significant benefits, such as a rapid onset of action, improved efficacy and improved tolerability compared with current therapies. Vectura's strategy is to combine its proprietary, innovative, pulmonary formulation and device technologies (PowderHale®, Aspirair® and GyroHaler®) with existing, off-patent drugs either for use in new indications or to provide inhalation as an improved route of administration. The Company seeks to license its lead products to pharmaceutical companies with established sales and marketing infrastructures for the later stages of development and for commercialisation, typically prior to Phase III clinical development. The Company has development collaborations with a number of companies, including Boehringer Ingelheim, Novartis, GSK and Chiesi. In November 2006 Vectura announced the proposed acquisition of Innovata plc. For further information, please visit Vectura's website at www.vectura.com
