Vectura announces VR315 collaboration accord
UK-based Vectura Group says it has signed an accord with an unnamed international pharmaceutical company relating to the development and licensing of its combination asthma therapy VR315. The firm added that the product will be developed for use with its GyroHaler dry powder inhalation system.
Under the terms of the deal, Vectura will be responsible for formulation development of the drug as well as commercial manufacture and supply of the GyroHaler device. Vectura's partner will take charge of European clinical development, manufacture and marketing. In return, Vectura will receive up to 22.5 million euros ($27.6 million) in milestones and developmental funding, due to begin this month with a payment of 5.6 million euros.
Vectura added that combination asthma therapy is the biggest and fastest growing sector of the asthma market with worldwide annual sales currently exceeding $6.0 billion.
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