18th Dec 2007 07:01
Vectura Group plc18 December 2007 Vectura Announces a Second Asthma Collaboration Agreement with a Leading International Pharmaceutical Company Chippenham, UK - December 18 2007: Vectura Group plc (LSE: VEC) ("Vectura")today announces that its undisclosed European collaboration partner for VR315has exercised an option to license VR632, a second combination asthma therapy.VR632 will be developed as a generic combination product using GyroHaler(R).This agreement follows the March 2006 agreement with the same European partnerfor 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 VR632 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, withVectura having access to all clinical data generated from the collaboration.Vectura's partner intends, if required, to provide US-compliant manufacturingfacilities for the blister filling and assembly of VR632 for non-Europeanterritories. Vectura will receive up to €15.5 million in milestones and development fundingprior to the launch of VR632 and will earn royalties on all product sales, aswell as a margin on the commercial manufacture 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: "We are delighted to be extending our collaboration with our VR315 partner,providing further validation of the progress we have made to date. It is amajor extension to one of the three key licensing deals we have concluded forproducts delivered using GyroHaler(R) and is the second announcement relating tothis technology in as many months. It is also further endorsement of the addedvalue Vectura can deliver in respiratory product development. The territorialnature of this agreement allows us to continue our efforts to deliver value inthe future by the further development and licensing of VR632 in otherterritories." - Ends - Enquiries: Vectura Group plc +44 (0)1249 667 600Dr Chris BlackwellAnne HylandJulia Wilson Financial Dynamics +44 (0)20 7831 3113David YatesSanjeev PandyaSusan Quigley Notes for Editors: About Vectura Vectura is a pulmonary product 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 Generics (part of Mylan Inc),UCB and Otsuka as well providing revenue streams, complementary products andcritical mass. For further information, please visit Vectura's website at www.vectura.com Forward-Looking Statements This press release contains "forward-looking statement", 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 programmes; failure to obtain patent protectionfor inventions; commercial limitations imposed by patents owned or controlled bythird 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:
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