Chippenham, UK – 13 August 2009: Vectura Group plc (LSE: VEC) (“Vectura”), the inhalation product development company, announces that it has received a US$6m (£3.6m) US milestone payment in relation to progress on the development of its combination asthma/COPD product, VR315.
Combination therapy for asthma and COPD is the biggest and fastest growing sector of the respiratory market, with annual sales currently exceeding US$10 billion. VR315 is being developed as a generic product delivered with Vectura’s GyroHaler® Dry Powder Inhaler (DPI) delivery device. Vectura licensed the US rights for VR315 to Sandoz, the generics division of Novartis, in December 2006 on a profit share basis. Vectura licensed the EU rights to Sandoz in March 2006.
Dr Chris Blackwell, Chief Executive of Vectura, commented:
“The achievement of this US milestone demonstrates further progress on VR315. This receipt follows shortly after our €2.5m (£2.2m) VR315 European milestone payment, received in April 2009. More news will be announced as the product gets closer to market.”
Enquiries: Vectura Group plc +44 (0)1249 667700 Chris Blackwell, Chief Executive Anne Hyland, Chief Financial Officer Julia Wilson, Director of Investor Relations
Financial Dynamics +44 (0)20 7831 3113 Ben Atwell Susan Quigley
