Vectura gets $9.6M DPI development milestone from Boehinger
UK-based Vectura has received a 7.5 million-euro ($9.6 million) milestone payment from German pharmaceutical major Boehringer Ingelheim as part of an April 2006 deal to develop a fully-integrated, multi-dose dry powder inhaler.
Boehringer is entitled to develop and market Vectura's proprietary respiratory medicines in a branded version of the inhaler for the treatment of respiratory diseases such as asthma and chronic obstructive pulmonary disease.
Milestones and equity payments received from Boehringer since April 2006 now total 37.5 million euros. Additional sums will be payable to Vectura for each product developed in the inhaler and the UK firm will also receive royalties on global sales of products delivered using it.
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