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Vectura's mystery partner licenses asthma drug for EUR 15.5m

Vectura says it could win up to EUR 15.5m after signing a licensing agreement with an unnamed international pharmaceutical company regarding its combination asthma treatment VR632

UK-based inhaleable drug company Vectura has revealed it could win up to EUR 15.5m in milestone payments, development funding and post-launch royalties after signing a licensing agreement with an unnamed international pharmaceutical company regarding its combination asthma treatment VR632.

The company, with which Vectura already has an agreement regarding its other asthma treatment VR315, will be responsible for the clinical development, manufacture and EU marketing of VR632, with Vectura having access to all clinical data generated from the collaboration.

The molecule will be developed for use with Vectura's GyroHaler inhaler device, and under the deal Vectura will be responsible for the supply of the device, along with further formulation development of VR632.

Vectura's CEO, Chris Blackwell, said: "It is a major extension to one of the three key licensing deals we have concluded for products delivered using GyroHaler and is the second announcement relating to this technology in as many months. It is also further endorsement of the added value Vectura can deliver in respiratory product development."

3rd December 2007

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