(Alliance News) - Vectura Group PLC on Monday said is has signed an agreement with Aerami Therapeutics Inc to develop inhaled imatinib as a treatment for pulmonary arterial hypertension.
Shares in Vectura were up 5.2% at 91.39 pence in London in afternoon trading.
Under the global licence and development agreement, Aerami will be responsible for developing and commercialising inhaled imatinib, or VR325, while Wiltshire-headquartered Vectura will provide development services expertise as well as a licence to its OFX mesh nubuliser technology.
Vectura is to receive development fees and revenue for its provision of OFX nebuliser devises as well as mid-single digit royalties from global sales of the drug. It will also receive "regulatory and success-related milestone payments" but no upfront payment.
Pulmonary arterial hypertension is a progressive disorder where a person has high blood pressure in the arteries of the lungs with no apparent cause.
VR325 was first developed by Vectura as part of its specialty pharma pipeline, but investment in this portfolio halted when Vectura switched focus towards the contract development and manufacturing organisation market.
This latest announcement means Vectura can realise value from historical research and investment in the drug while also gaining revenue from CDMO development services from Aerami.
Vectura Chief Executive Will Downie said: "Pulmonary arterial hypertension is a rare, progressive, fatal disease with approximately 500-1000 new cases diagnosed each year in the US alone according to the National Organization for Rare Disorders. 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."
By Anna Farley; annafarley@alliancenews.com
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