Vectura Group plc (VEC.L) Announces A Further US Collaboration Agreement With A Leading International Pharmaceutical Company For The VR506 Asthma Therapy
6/30/2014 9:08:57 AM
Chippenham, UK – 30 June 2014: Vectura Group plc (LSE: VEC; “Vectura” or the “Company”) announces that it has signed a US collaboration, development and license agreement for VR506, Vectura’s clinical stage asthma monotherapy delivered using Vectura’s proprietary technology. The agreement for VR506 is with Vectura’s existing, undisclosed, US partner for VR315 (a combination therapy for asthma/COPD).
Under the terms of this agreement, Vectura’s partner will be responsible for the commercialisation and manufacture of the product together with clinical development. Vectura will provide support for the US development of VR506, for which it will receive an initial payment of $4 million and up to $8 million upon achievement of pre-determined development milestones. Further development fees may be payable to Vectura if the program progresses beyond a pre-defined milestone. In addition, Vectura will receive a royalty from all VR506 US sales.
Dr. Chris Blackwell, Chief Executive of Vectura:
“This is an important step for the development of VR506 for the potentially lucrative US market and it extends the successful collaboration with our established US partner. This provides additional third party validation of the progress we have made to date and is a major endorsement of the potential value of this product.”
Vectura Group plc +44 (0)1249 667700
Chris Blackwell, Chief Executive
Karl Keegan, Chief Corporate Development Officer
FTI Consulting 44 (0)20 3727 1000
Ben Atwell / John Dineen
VR506 is an inhaled corticosteroid (ICS) for the treatment of asthma, which entered clinical development in early 2011. Products containing ICS and their combinations with long-acting beta agonists (LABA/ICS) are the mainstay of prophylactic therapy for asthma with overall major market sales exceeding $5.8 billion in 2012. As one of the recommended “preventer” drugs for adults and children, they are often prescribed alongside beta2-agonist bronchodilators.
Vectura is a product development company that focuses on the development of pharmaceutical therapies for the treatment of airways-related diseases (airways diseases). This growing market includes asthma and chronic obstructive pulmonary disease (COPD) and is estimated to be worth in excess of $46 billion worldwide.
Vectura has eight products marketed by partners and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura has disclosed development collaborations and licence agreements with several pharmaceutical and biotechnology companies, including Novartis, Sandoz, Baxter, GlaxoSmithKline, UCB, Ablynx, Grifols and Tianjin KingYork Group Company Limited.
Vectura develops products for airways diseases and owns formulation and inhalation technologies that 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.
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