29th Nov 2006 07:00
Vectura Group PLC29 November 2006 Vectura Announces that QVA149 Clinical Development starts in 2007 and Updates the Status of NVA237 Chippenham, UK - 29 November 2006: Vectura Group plc ("Vectura"; LSE: VEC), thepulmonary product development company, today announces that at a PharmaceuticalPipeline Update presentation yesterday in London, Novartis, highlighting theimportance of its respiratory franchise, stated that initial formulation work onQVA149 had been successfully concluded and that clinical development starts in2007. QVA149 is a fixed dose combination product for the treatment of COPD, anirreversible and chronic obstruction of the airways. The product combinesNVA237, the once daily long acting muscarinic antagonist licensed to Novartis byVectura in 2005, together with Novartis' once daily long acting beta2 agonist,indacaterol. Novartis also indicated at its presentation that it expected to file NDAsubmissions for both NVA237 and QVA149 in 2010. Dr. Chris Blackwell, Chief Executive of Vectura, said: "Novartis' commitment tothe NVA237 and QVA149 products reflects our own continued belief that theseproducts will provide benefit for COPD patients in the future." Enquiries: Vectura Group plcChris Blackwell, Chief Executive +44 (0) 1249 667 700Anne Hyland, Chief Financial Officer Financial DynamicsDavid Yates / Anna Keeble +44 (0) 207 831 3113 Notes for Editors: About the NVA237 licence agreement with Novartis Vectura and its co-development partner Sosei Group Corporation ('Sosei")concluded a global development and commercialisation agreement with Novartis inApril 2005 for their collaborative product NVA237. Novartis is responsible fordeveloping and commercializing NVA237 both as a monotherapy and in combinationwith indacaterol, its once daily, long acting beta2 agonist. Under the terms of the agreement, Vectura and Sosei have already received $15million each and will receive up to $172.5 million each for achieving pre-agreedclinical, regulatory and commercialisation targets for both the monotherapy andcombination product. These potential milestones thus total up to $375 million.In addition, royalties on product sales will be paid for the monotherapy and thecombination product. If a third combination product is developed by Novartis,using NVA237, further milestones and royalties may be payable. About Vectura Vectura's principal focus is the development of a range of inhaled drugs for thetreatment both of 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 products combine its proprietary, innovative, pulmonary formulationand device technologies (Aspirair(R) , GyroHaler(R) and PowderHale(R)) withexisting, off-patent drugs either for use in new indications or to provideinhalation as an improved route of administration. Using drugs that have alreadybeen approved in some form in at least one major pharmaceutical market lowersthe risk of product development failure compared to new chemical entities.Vectura is able to secure patent protection for its portfolio by identifying newindications for off-patent compounds and applying the Company's proprietarydelivery technologies to create new methods of administration. The Company hasdevelopment collaborations with a number of companies, including BoehringerIngelheim, Novartis, GSK and Chiesi and an un-named leading internationalpharmaceutical company. 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:
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