4th Apr 2006 07:01
Vectura Group PLC04 April 2006 VECTURA ANNOUNCES COLLABORATION AGREEMENT WITH LEADING INTERNATIONAL PHARMACEUTICAL COMPANY FOR COMBINATION ASTHMA THERAPY Chippenham, UK - April 4 2006: Vectura Group plc (LSE: VEC) ("Vectura") todayannounces that it has signed a European collaboration, development and licenceagreement with a leading international pharmaceutical company for Vectura'sVR315, a combination asthma therapy. VR315 will be developed as a genericcombination product using GyroHaler(R). This agreement comes less than a yearafter Vectura commenced development of VR315. Vectura's GyroHaler(R) is a multi-dose, dry powder inhaler developed with theaim of providing a number of advantages over competing devices. These includebetter convenience for patients, more consistent, precise dosing and excellentmoisture protection, a key distinguishing factor in inhaled drugs which are in afine powder form. Under the terms of the agreement, Vectura will be responsible for the furtherformulation development of VR315 and for the commercial manufacture and supplyof the GyroHaler(R) device. Vectura's partner will be responsible for theclinical development, manufacture and European marketing of the product. Vecturawill have access to all clinical data generated by its partner. In addition,Vectura's partner intends to provide, if required, US-compliant manufacturingfacilities for the blister filling and assembly of VR315 for non-Europeanterritories. In addition, Vectura's partner has an option to license a second genericcombination therapy in GyroHaler for the European market, which is based on twodifferent existing asthma treatments. Vectura will receive up to €22.5 million in milestones and development funding.An initial payment of €5.6 million will be received in April 2006 and theremaining €16.9 million will be received before VR315 is launched. In addition,Vectura will earn royalties on all VR315 sales and a margin on the commercialmanufacture and supply of GyroHaler(R). The agreement covers Europe and certain other countries, with Vectura retainingthe rights for the US, Japan, Canada, South America, Australia, New Zealand andsome other territories. Combination therapy for asthma is the biggest and fastest growing sector of theasthma market with annual sales currently exceeding $6 billion and Europeanannual sales estimated at approximately $1.5 billion. Dr Chris Blackwell, Chief Executive of Vectura, said: "This is the second major licensing deal we have delivered in the last 12 monthsand the first for a product delivered using GyroHaler(R). It is furtherendorsement of the added value Vectura can deliver in respiratory productdevelopment both with our formulation expertise and with our devices. Theterritorial nature of this agreement allows us to continue our efforts todeliver value in the future by the further development and licensing of VR315for other territories." Enquiries: Vectura Group Plc Tel + 44 (0) 1249 667700Chris Blackwell, Chief ExecutiveAnne Hyland, CFO Financial Dynamics Tel: + 44 (0) 207 831 3113David Yates / Sarah MacLeod Notes for Editors: About Vectura Vectura's principal focus is the development of a range of inhaled drugs for thetreatment of both lung diseases and other conditions where optimised deliveryvia the lungs can provide significant benefits, such as a rapid onset of action,improved efficacy and improved tolerability compared with current therapies. Vectura's strategy is to combine its proprietary, innovative, pulmonaryformulation and device technologies (PowderHale(R), Aspirair(R) and GyroHaler(R)) with existing, off-patent drugs either for use in new indications or toprovide inhalation as an improved route of administration. The Company seeks tolicense its lead products to pharmaceutical companies with established sales andmarketing infrastructures for the later stages of development and forcommercialisation, typically prior to Phase III clinical development. TheCompany has development collaborations with a number of companies, includingNovartis, GSK and Chiesi. For further information, please visit Vectura's website at www.vectura.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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