Vectura Group plc

Vectura signs agreement with Aerami Therapeutics

RNS Number : 2571P
Vectura Group plc
08 June 2020
 

 

 

 

Vectura signs agreement with Aerami Therapeutics Inc.

Agreement to support the development of inhaled imatinib (VR325) for the treatment of Pulmonary Arterial Hypertension

 

Chippenham, UK - 8 June 2020 : Vectura Group plc (LSE: VEC) ("Vectura"), an industry leading inhalation CDMO, today announces the signing of a global licence and development agreement with Aerami Therapeutics Inc. ("Aerami") for inhaled imatinib (VR325) for the treatment of Pulmonary Arterial Hypertension.

Aerami will be responsible for the overall development and commercialisation of inhaled imatinib, with Vectura providing development services expertise and a license to its FOX ® mesh nebuliser technology.

Under the partnership, Vectura will receive development fees, revenue from the provision of FOX® nebuliser devices and mid-single digit royalties from global net sales of imatinib, together with regulatory and success-related milestone payments.  There is no upfront payment.

VR325, inhaled imatinib, was first developed by Vectura as part of its former speciality pharma pipeline. As the company pivoted to a strategy focused on the CDMO market, it announced it would cease further investment in this portfolio, instead providing development services to a more diverse range of biotech and pharmaceutical companies in the growing inhalation CDMO space.

Today's announcement provides an opportunity for Vectura to realise value from its historical research and investment in VR325, whilst also securing new CDMO development services revenue from the product's further development with Aerami.

Will Downie , Chief Executive Officer of Vectura, commented : "Pulmonary Arterial Hypertension is a rare, progressive, fatal disease with approximately 500-1000 new cases diagnosed each year in the U.S. alone according to the National Organization for Rare Disorders1. In working together with Aerami, this programme has the potential to impact the lives of patients around the world. Our deep inhalation expertise, especially now as a CDMO, perfectly complements the scientific capability of Aerami in the biotechnology field. We look forward to developing a strong partnership for years to come."

1   rarediseases.org/rare-diseases/pulmonary-arterial-hypertension/

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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                                 

Mary-Jane Elliott / Sue Stuart / David Daley   +44 (0)20 3709 5700

About Vectura

Vectura is a provider of innovative inhaled drug delivery services that enable partners to bring their medicines to patients. With differentiated proprietary technology and pharmaceutical development expertise, Vectura is one of the few companies globally with the device, formulation and development capabilities to deliver a broad range of complex inhaled therapies. 

Vectura has eleven 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 division of Novartis AG), Mundipharma, Kyorin, GSK, Bayer, Chiesi, Almirall, and Tianjin KingYork.

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

About Aerami

Aerami Therapeutics is a biopharmaceutical company committed to developing inhaled therapies for treatment of pulmonary arterial hypertension and other severe respiratory diseases. Aerami's drug device platform consists of drug aerosol formulations and cutting-edge technology that allows for precise and fast drug delivery into the small airway of the lungs.

Anne Whittaker, a non-executive director of Vectura, is the CEO of Aerami and, accordingly, as part of the authorisation of allowing the matter to proceed, did not participate in the deliberations or decisions making around the terms of the transaction either at Vectura or at Aerami.

Forward-looking statements

This press release contains forward-looking statements, including statements about the 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: 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.


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