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Chippenham, UK – 4th June 2013: Vectura Group plc (“Vectura” or the “Company”; LSE: VEC), announces that the Company could receive a £2m change of control payment as part of the potential acquisition announced today, by The Medicines Company of ProFibrix B.V. The acquisition is subject to a satisfactory review of the pending Phase 3 clinical trial results of ProFibrix’s lead biologic, Fibrocaps™, expected in Q3 2013. In addition to the change of control payment, Vectura will potentially receive payments based on certain approval and sales milestones, plus a single digit royalty on sales of Fibrocaps™.
The patents licensed by Vectura to Profibrix B.V. in relation to Fibrocaps were acquired as part of the Innovata plc acquisition. The only assets in Vectura’s balance sheet at 31 March 2013 in relation to its agreements with Profibrix B.V. were £0.4m of intangible assets.
Dr Chris Blackwell, Chief Executive of Vectura commented:
“Today’s announcement further demonstrates Vectura’s commitment to monetise value from its extensive intellectual property portfolio.”
About ProFibrix
ProFibrix (www.profibrix.com) was founded in 2004 and is headquartered in Leiden, The Netherlands, with a subsidiary in Seattle, WA, USA. The company leverages its expertise in fibrinogen technology to develop and bring to market innovative products for the hemostasis and regenerative medicine markets. Human fibrinogen plays a pivotal role in blood clotting and tissue healing. ProFibrix is led by a team with extensive commercial, clinical and scientific experience in the hemostasis field.
About Fibrocaps
Fibrocaps is a mixture of two essential blood clotting proteins, fibrinogen and thrombin, formulated as a unique dry powder topical product, which is being developed to stop bleeding during or after surgery. Fibrocaps is differentiated from existing liquid fibrin sealants and hemostats: it is ready for immediate use, is stable at room temperature and does not require frozen storage or thawing.
About the FINISH-3 trial
FINISH-3 is a prospective, randomized, Phase 3 trial of Fibrocaps in patients undergoing spinal, liver, vascular and soft tissue surgery. Patients were enrolled in the U.S. and Europe. Results of FINISH-3 are expected in the third quarter of 2013.
About The Medicines Company
The Medicines Company (www.themedco.com) provides medical solutions to improve health outcomes for patients in acute and intensive care hospitals worldwide. These solutions comprise medicines and knowledge that directly impact the survival and well-being of critically ill patients.
Enquiries
Vectura Group plc +44 (0)1249 667700
Chris Blackwell, Chief Executive
Karl Keegan, Corporate Development Director
FTI Consulting +44 (0)20 7831 3113
John Dineen / Ben Atwell / Simon Conway
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