(Alliance News) - Vectura Group PLC on Monday announced it has inked an agreement with Massachusetts-based Kinaset Therapeutics Inc to support the development of an inhaled drug to be used for the prevention and treatment of severe asthma.
Vectura is a pharmaceuticals business based in Chippenham, England and focused on the development of inhaled products.
The agreement with Kinaset, which focuses on the advancement of novel drugs in areas of unmet medical needs, is for the development and commercialisation of VR588, a preclinical novel inhaled pan-JAK inhibitor.
"Pan-JAK inhibitors have been developed and tested in clinical trials, approved and commercialised for many different indications but mainly for the treatment of chronic inflammatory conditions associated with an overactive immune response," Vectura said.
VR588 is part of Vectura's "former speciality pharma pipeline", meaning the new agreement has given the company the opportunity to revisit VR588 and "to realise value from its historical research and investment" in the drug.
The agreement will see Vectura provide fee-for-service development expertise to Kinaset to formulate and support phase one studies of the product.
Vectura Chief Executive Will Downie said: "We look forward to working closely with Kinaset to support their development of this product, with the potential to bring a new treatment option to asthma patients in the future."
Additionally, Vectura will grant a license to Kinaset to develop and commercialise VR588, in return for development and sales milestones, as well as future royalties, Vectura said.
Kinaset will also be able to pursue further VR588 products, for which Vectura would be entitled to milestones and royalties.
Vectura shares were up 1.9% at 117.40 pence each in London on Monday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
