Vectura Group plc Further Collaboration with Hikma (7654P)
22 November 2016 - 6:01PM
UK Regulatory
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
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