Chippenham, UK – 18 February 2010: Vectura Group plc (LSE: VEC) (“Vectura”), today
publishes an interim management statement for the period from 1 October 2009 to 17 February
2010.
Pipeline Update
· NVA237 (COPD) Phase III clinical studies on-going and Novartis expect to file for
approval in 2011
· QVA149 (COPD) Phase III clinical studies expected to start in Q2, triggering a $7.5m
milestone payment to Vectura
· VR315 and VR632 (asthma/COPD products) development progress continues
· VR040 (Parkinson’s disease) Phase II “at home” study on-going; results expected in
2010
· VR496 (cystic fibrosis) Phase II proof-of-concept results expected in early 2011
· Exploratory development projects progressing; further announcements during 2010
· Conclusion of the Boehringer Ingelheim collaboration announced in November 2009
Financial update
On 27 November 2009, Vectura reported its interim results for the six-months ended 30
September. Revenue for the first six-months of the financial year of was £22.8m, 71% ahead
of the same period the previous year. Gross profit increased 86% to £21.2m and the Company
made a research and development investment of £18.5m.
Vectura’s performance from the 1 October 2009 to date has been in line with the Board’s
expectations and it is expected that cash will be in excess of £64m at 31 March 2010.
Outlook
The Company looks forward to the initiation of the QVA149 Phase III study in Q2 2010,
continued progress on VR315, clinical trial results for VR496 and VR040, as well as continued
licensing activities on its non-respiratory assets.
Dr Chris Blackwell, Chief Executive of Vectura, commented:
“Development of our clinical pipeline continues to make good progress, with NVA237 in Phase
III and QVA149 due to enter Phase III shortly. Filing of these products is expected in 2011 and
2012 respectively, and we continue to believe they will be major contributors to our future
success. Our strong financial position continues to stand us in good stead, allowing us to
invest in our own pipeline and moving us towards our goal to become a sustainably cashgenerative
company.”
