13th Jul 2007 11:01
Vectura Group PLC13 July 2007 Vectura Group PLC Proposed move to the Official List from AIM 13 July 2007, Chippenham, UK. Following the announcement by Vectura Group plc("the Company") (AIM: VEC), on 4 June 2007 of its intention to apply foradmission to the Official List of the UK Listing Authority (the "OfficialList"), application has now been made for the Company's issued ordinary sharesto be admitted to the Official List and to be traded on London Stock Exchangeplc's market for listed securities ("Admission") and for the cancellation of theCompany's issued ordinary shares on AIM. It is intended that Admission willbecome effective at 8.00 a.m. on 18 July 2007 and that trading in the Company'sshares on AIM will cease at the same time. Dr Chris Blackwell, Chief Executive of Vectura, commented: "We are delighted to be moving from AIM to the Main Market in London, where webelieve we will see additional liquidity and a higher profile with investors." - Ends - Enquiries: Vectura Group plc +44 (0)1249 667 600Dr Chris BlackwellAnne HylandJulia Wilson Piper Jaffray +44 (0)20 3142 8700David RasoulyWill Carnwath Financial Dynamics +44 (0)20 7831 3113David YatesJohn Gilbert About Vectura Vectura is a pulmonary drug development company focused principally on thedevelopment of a range of inhaled therapies for the treatment of respiratory andneurological diseases. The respiratory market is forecast to achieve sales of$32 billion by 2011. Vectura develops products to treat respiratory diseasessuch asthma, COPD and cystic fibrosis. Vectura also develops products whereoptimised delivery via the lungs into the blood stream can provide significantbenefits, such as a rapid onset of action, improved efficacy and improvedtolerability compared with current therapies. Vectura has eight marketed products and a portfolio of drugs in clinical andpre-clinical development, some of which have been licensed to majorpharmaceutical companies. The Company also seeks to develop certain programmesfurther through development to optimise value at a later licensing stage.Vectura also offers its formulation and inhalation technologies to otherpharmaceutical companies on a licensing basis where this complements Vectura'sbusiness strategy. Vectura has development collaborations with a broad range of pharmaceuticalcompanies including Boehringer Ingelheim, Novartis, and Chiesi. The acquisitionof Innovata in January 2007 brought established alliances with a number ofadditional companies, such as Baxter, GSK, Merck KGaA, UCB and Otsuka as wellproviding revenue streams, complementary products and critical mass. For further information, please visit Vectura's website at www.vectura.com This press release contains "forward-looking statements," including statementsabout the discovery, development and commercialisation of products. Variousrisks may cause Vectura's actual results to differ materially from thoseexpressed or implied by the forward-looking statements, including adverseresults in clinical development programs; failure to obtain patent protectionfor discoveries; commercial limitations imposed by patents owned or controlledby third parties; dependence upon strategic alliance partners to develop andcommercialise products and services; difficulties or delays in obtainingregulatory approvals to market products and services resulting from developmentefforts; the requirement for substantial funding to conduct research anddevelopment and to expand commercialisation activities; and product initiativesby competitors. As a result of these factors, prospective investors arecautioned not to rely on any forward-looking statement. We disclaim anyintention or obligation to update or revise any forward-looking statements,whether as a result of new information, future events or otherwise. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
VEC.L