VR942 Phase I clinical study commences

Vectura Group plc

VR942 Phase I clinical study commences

Chippenham, UK - 4 June 2015: Vectura Group plc (LSE: VEC) ("Vectura"), which specialises in the development of products for the treatment of airways-related diseases, announces that, following the successful completion of a number of pre-clinical studies, enrolment has commenced into a Phase I clinical study (VR942-1-001) in healthy volunteers and patients with asthma.

In September 2013, Vectura Group and UCB (EBR: UCB; "UCB") announced that they had entered into a collaboration for the development of an innovative inhaled biologic immunomodulatory product ("VR942") in the area of severe inflammatory respiratory disease. The partnership, leveraging Vectura's dry powder inhaler/formulation and clinical/regulatory experience with UCB's biologics and immunology expertise, will focus upon the development of VR942 to completion of Phase II clinical proof-of-concept.

Financial terms of the collaboration have not been disclosed.

Dr Chris Blackwell, Chief Executive, commented: "The start of clinical evaluation of this innovative and differentiated candidate is a very positive step and we look forward to further progress in the future. This achievement is underpinned by an excellent collaborative relationship, combining the development strengths of Vectura and UCB."

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About Vectura

Vectura is a product development company that focuses on the development of pharmaceutical therapies for the treatment of airways-related diseases (airways diseases). This growing market includes asthma and chronic obstructive pulmonary disease (COPD) and is estimated to be worth $44 billion worldwide.

Vectura now has eight products marketed by partners with growing global royalty streams and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura currently has disclosed development collaborations and licence agreements with several global pharmaceutical and biotechnology companies, including Novartis, Sandoz, Baxter, GlaxoSmithKline, UCB, Ablynx, Grifols, Janssen Biotech and Tianjin KingYork Group Company.

Vectura develops products for airways diseases and owns formulation and inhalation technologies that are available to other pharmaceutical companies on an out-licensing basis where this complements Vectura's business strategy.

For further information, please visit Vectura's website at www.vectura.com.

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Forward-looking statements

This press release contains forward-looking statements, including statements about the discovery, development and commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.