Chippenham, UK – 30 October 2015: Vectura Group plc (LSE: VEC; “Vectura” or the “Company”), which specialises in the development of products for the treatment of airways-related diseases, announces that a cash milestone has been triggered by the successful achievement of a further development milestone associated with VR632 in the EU. VR632 is a generic, inhaled combination therapy for asthma/COPD delivered using Vectura’s proprietary dry powder inhaler and formulation technology.
In December 2007, Vectura signed a licence agreement with Sandoz for the development, manufacturing and commercialisation of VR632 in Europe. To date, Vectura has announced development milestones under this agreement of €1.0m. The milestone announced today is for an additional €0.75m. Vectura will receive a royalty from all sales of VR632 in Europe in the event of successful launches.
Trevor Phillips, Chief Operating Officer, commented:
“The announcement of this further development milestone continues to demonstrate the progress being made on another of our partnered generics pipeline products and follows the recent positive milestone announcement we made on our US generics portfolio product, VR315. This achievement is underpinned by the excellent ongoing relationship, combining the device and development strengths of Vectura with our partner Sandoz. Vectura continues to be viewed as a partner of choice by companies seeking to address the unmet medical needs of patients with airway diseases.”
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Enquiries
Vectura Group plc
+44 (0)1249 667700
Karl Keegan, Chief Corporate Development Officer
Fleur Wood, Director – Investor Relations & Corporate Communications
Citigate Dewe Rogerson
+44 (0)20 7638 9571
David Dible / Mark Swallow
About Vectura
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 $44 billion worldwide.
Vectura now has eight products marketed by partners with growing global royalty streams and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura currently has disclosed development collaborations and licence agreements with several global pharmaceutical and biotechnology companies, including Novartis, Sandoz, Baxter, GlaxoSmithKline, UCB, Ablynx, Grifols, Janssen Biotech and Tianjin KingYork Group Company.
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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