Chippenham, UK – 7 November 2014: Vectura Group plc (LSE: VEC; “Vectura” or the “Company”) announces that it has triggered a further milestone associated with the development of VR315 in the US. VR315 is a combination therapy for asthma/COPD delivered using Vectura’s proprietary technology.
In August 2011, Vectura signed a licence agreement with the US division of a leading international pharmaceutical company for the development, manufacturing and commercialisation of VR315 in the US.
To date, Vectura has announced development milestones under this agreement totalling $7.5m. The milestone announced today is an additional $1.5m.
Vectura is eligible to receive a further $26m upon achievement of future pre-determined development milestones. These milestones, together with the initial payment of $10m in August 2011, total $45m. In addition, Vectura will receive a royalty from all sales of VR315 in the US.
Dr. Chris Blackwell, Chief Executive of Vectura:
“This announcement of a further development milestone in 2014 continues to demonstrate the progress being made on the VR315 US development and forms a major part of our high value respiratory generic portfolio in the US.”
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Enquiries
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 / Ulla Lundhus
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 in excess of $46 billion worldwide.1
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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