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Vectura Group plc (VEC.L) Release: Jack Cashman to Retire as Non-Executive Chairman
9/23/2013 8:44:12 AM
Chippenham, UK – 23 September 2013: Vectura Group plc (LSE: VEC; “Vectura”) announces that, after 12 years as Non-Executive Chairman, Jack Cashman has made known his intention to retire from the Board.
Jack Cashman joined the Board of Vectura as Non-Executive Chairman in 2001. Jack played a key role in helping to list Vectura on the London Stock Exchange and has been integral to the subsequent successful development of the Company.
A process to appoint a successor is underway.
Dr. Chris Blackwell, Chief Executive of Vectura commented:
“On behalf of the Board, I would like to thank Jack for his considerable contribution to the transformation of Vectura over the last twelve years. Since 2001, Vectura has developed from a small private business with a limited pipeline into a well-financed company with multiple revenue streams and a strong pipeline with products on the market treating patients.”
Jack Cashman, Non-Executive Chairman, said: “I have thoroughly enjoyed my time at Vectura and am proud to have been a part of the team that built Vectura into a leading developer of inhaled therapies. I will be leaving the business in excellent shape and with robust prospects.”
Vectura Group plc
+44 (0)1249 667700
Chris Blackwell, Chief Executive
Karl Keegan, Corporate Development Director
+44 (0)20 7831 3113
John Dineen / Ben Atwell
Vectura Group plc and its subsidiaries (“Vectura” or the “Group”) is a product development company that focuses on the development of pharmaceutical therapies for the treatment of airway-related diseases. This growing market includes asthma and chronic obstructive pulmonary disease (COPD) and is estimated to be worth in excess of $30 billion worldwide.
Vectura has seven products marketed by its partners and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura has development collaborations and licence agreements with several pharmaceutical companies, including Novartis, Sandoz (the generics arm of Novartis), Baxter, GlaxoSmithKline (GSK) and Tianjin King York Group Company Limited (KingYork).
Vectura seeks to develop certain programmes itself where this will optimise value. Vectura’s formulation and inhalation technologies are available to other pharmaceutical companies on an out-licensing basis where this complements Vectura’s business strategy. For further information, please visit Vectura’s website at www.vectura.com.
This press release contains forward-looking statements, including statements about the discovery, development and commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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