Vectura Group plc Further Collaboration with Hikma (7654P)

TIDMVEC

RNS Number : 7654P

Vectura Group plc

22 November 2016

Vectura Group plc

Vectura announces a further collaboration with Hikma for the development of generic salmeterol for the US (VR730)

Chippenham, UK - 22 November 2016: Vectura Group plc (LSE: VEC) ("Vectura", "the Group"), an industry-leading inhaled airways disease focused business, today announces that it has signed a US development and license agreement with Hikma Pharmaceuticals PLC ("Hikma") (through its wholly-owned subsidiary, West-Ward Pharmaceuticals) for Vectura's VR730 product. VR730 is a generic long acting beta-agonist (LABA) for the treatment of Asthma and COPD delivered using Vectura's proprietary dry powder inhalation technology and device. According to IMS, US sales of inhaled DPI and pMDI LABAs were approximately $150 million in 2015(1) .

Under the terms of this agreement, Hikma will be responsible for the US commercialisation and manufacture of the product together with clinical development. Vectura will complete the formulation development of VR730 which will largely be funded by Hikma and there is no material impact on the level of the Group's R&D investment.

Vectura will receive an initial payment of $375,000 and potential further development, filing, approval and launch milestones up to an aggregate of $1.125 million. The Group is also eligible for a share of future returns of the product in line with its existing generic agreements, subject to certain recoveries by Hikma for the costs of the clinical endpoint pivotal trial.

James Ward-Lilley CEO of Vectura, commented:

"Extending collaborations with our existing partners is a key part of our strategy and this agreement reflects the excellent strategic relationship we have with Hikma. VR730 has good market potential and is a logical expansion of our work on the existing generic programmes with Hikma, VR315, the generic Advair(R) programme, and VR506 a generic, inhaled monotheraphy for asthma. This latest agreement further validates Vectura's technology and value potential in the generics area which was strengthened by the merger with Skyepharma and the addition of the pressurised metered dose platform.

"As well as the development of VR730 with Hikma, the Group is actively pursuing additional generic opportunities with significant potential. As announced in our trading update in September, we are initiating development of three to five new generic inhalation assets that we expect to progress further with partners adding to our exciting pipeline of partnered novel and wholly-owned specialist assets."

This announcement includes inside information

- Ends -

Reference:

1IMS MIDAS sales data calendar Year 2015

Enquiries

 
Vectura Group plc                                                +44 (0)1249 667700 
Andrew Derodra - Chief Financial Officer 
Fleur Wood, Director - Communications 
Elizabeth Knowles - Director Investor Relations and Analysis 
 
Consilium Strategic Communications                               +44 (0)20 3709 5700 
Mary-Jane Elliott / Sue Stuart /                                  vectura@consilium-comms.com 
Jessica Hodgson

About Vectura

Vectura, a FTSE250 company listed on the London Stock Exchange (LSE: VEC), is an industry-leading inhaled airways disease focused business with proprietary formulation and devices across DPI, pMDI and smart nebulisation platforms. With our extensive range of technologies, capabilities and collaborations, we believe we can become a leader in the development of inhalation products, increasing our ability to help patients suffering from respiratory diseases. In June 2016 Vectura completed a merger with Skyepharma PLC.

Vectura has seven inhaled, four non-inhaled and ten oral products marketed by partners with growing global royalty streams, and a portfolio of drugs in clinical development, a number of which have licence agreements with several global pharmaceutical and biotechnology companies including Hikma, Novartis, Sandoz, Mundipharma, Kyorin, Baxter, GSK, UCB, Ablynx, Grifols, Chiesi, Almirall, Janssen, and Tianjin KingYork.

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

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGREAAFFAEDKFAF

(END) Dow Jones Newswires

November 22, 2016 02:01 ET (07:01 GMT)

Vectura (LSE:VEC)
Historical Stock Chart
From Mar 2024 to Apr 2024