Vectura Group plc $2.5m milestone payment for QVM149 submission (0548A)
May 24 2019 - 2:00AM
UK Regulatory
TIDMVEC
RNS Number : 0548A
Vectura Group plc
24 May 2019
Vectura receives $2.5m milestone payment for the European
regulatory submission of QVM149
Chippenham, UK - 24 May 2019: Vectura Group plc (LSE: VEC)
("Vectura" or "the Group"), announced today that it will receive a
$2.5million milestone payment under an exclusive licence agreement
with Novartis AG. The payment was triggered following the
acceptance of Novartis' valid Marketing Authorisation Application
(MAA) by the EU Regulatory Authorities for the regulatory approval
of QVM149. QVM149 is a potential new inhaled combination therapy
for inadequately controlled asthma.
Vectura's Chief Executive Officer, James Ward-Lilley, said: "We
are pleased to see the progression of the QVM149 program and the
acceptance of the EU registration dossier ahead of its original
timeline. Based on the strong Phase II study results for QVM149
presented at ATS this week, we believe this new asthma treatment
has the potential to have a competitive profile and provide an
important and compelling additional option for physicians and
patients."
QVM149 combines comprehensive bronchodilation of indacaterol
acetate (a LABA [long-acting beta agonist]) and glycopyrronium
bromide (a LAMA [long-acting muscarinic receptor antagonists) with
mometasone furoate (an inhaled corticosteroid) in a precise
once-daily formulation delivered in a dry-powder inhaler device.
Vectura and Sosei Heptares exclusively licensed glycopyrronium
bromide and certain intellectual property relating to its use and
formulation to Novartis in April 2005. Novartis is responsible for
the development and commercialisation of QVM149.
Vectura is due to receive a further milestone payment of $5.0
million on European regulatory approval of the product and
thereafter royalties on net sales from launch.
- Ends-
For more information, please contact:
Vectura Group plc
David Ginivan - VP Corporate Communications +44 (0)7471 352 720
Elizabeth Knowles - VP Investor Relations +44 (0)7767 160 565
Consilium Strategic Communications +44 (0)20 3709 5700
Mary-Jane Elliott / Jessica Hodgson / Susan Stuart / David Daley
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.
About Vectura
Vectura is an industry-leading inhaled product formulation,
device design and development business offering a uniquely
integrated inhaled drug delivery platform. We develop inhalation
products to help patients suffering from airways diseases.
Vectura has ten key inhaled and eleven non-inhaled products
marketed by partners with global royalty streams, and a diverse
partnered portfolio of drugs in clinical development. Our partners
include Hikma, Novartis, Sandoz (a divison of Novartis AG),
Mundipharma, Kyorin, Baxter, GSK, UCB, Bayer, Chiesi, Almirall,
Dynavax and Tianjin KingYork.
Vectura's strategy is to fully leverage its differentiated
technology and skills, maximising value by enhancing the delivery
and performance of inhaled products, and through the development of
high-quality generic alternatives to branded therapies.
For further information, please visit Vectura's website at
www.vectura.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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