4th Jun 2007 07:01
Vectura Group PLC04 June 2007 Not for release or distribution or publication in whole or part in or into the United States, Canada, Japan or Australia Vectura Group plc - Proposed move from AIM to the Official List and notice of intended cancellation of AIM listing 4 June 2007, Chippenham, UK. Vectura Group plc ("the Company") today announcesthat, as referred to in its preliminary results announcement on 23 May 2007, theCompany intends to apply for admission of its ordinary shares to the OfficialList of the UK listing Authority ("Official List") and to trading on the LondonStock Exchange's market for listed securities. Pursuant to Rule 41 of the AIM Rules, the Company hereby gives notice of theintended cancellation of trading of its ordinary shares on the AIM market of theLondon Stock Exchange. It is expected that the Company's ordinary shares will be simultaneouslycancelled on AIM and admitted to the Official List and to trading on the LondonStock Exchange in July, subject to the receipt of necessary approvals from therelevant regulatory authorities for each exchange. The Directors believe that the Company has now reached a size at which it willbenefit from the increased international profile of the Official List. The movewill broaden Vectura's potential domestic and international investor base andshould increase both liquidity of the shares and the profile of the Company. - 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 Company targets opportunities where optimiseddelivery via the lungs can provide significant benefits, such as a rapid onsetof action, improved efficacy and improved tolerability compared with currenttherapies. 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 capabilities 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, GSK and Chiesi. Theacquisition of Innovata in January 2007 brought established alliances with anumber of additional companies, such as Baxter, Merck KGaA, UCB and Otsuka aswell providing 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