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Vectura Group plc - Interim Results for six months ended 30 September 2006

Vectura Group plc - Interim Results for six months ended 30 September 2006

Chippenham, UK, 17 November 2006 – Vectura Group plc (LSE: VEC) today announces its results for the six months ended 30 September 2006.

ANNOUNCED TODAY

• Acquisition of Innovata plc for £131m, creating the UK leader in pulmonary drug development (see separate press release)

PERIOD HIGHLIGHTS

• Worldwide collaboration, development and licence agreement, signed in April 2006 with Boehringer Ingelheim to develop a new inhaler
• Successful outcome of Phase IIb trial of NVA237 for Chronic Obstructive Pulmonary Disease (COPD)
• Successful outcome of Phase IIb clinical study of VR004 for erectile dysfunction (ED)
• VR040 demonstrates safety and efficacy in Phase IIa study for treatment of "off" periods in patients with Parkinson’s disease (PD)
• Revenues increased by 71% to £6.1m
• Net cash inflow from operations £1.5m (HI 05/06 cash inflow of £4.3m)
• Placing completed in July 2006, raising £42.9m (post expenses)
• Strong financial position with closing cash of £68.6m

Commenting on the results, Dr. Chris Blackwell , Chief Executive of Vectura, said:

"This has been another extremely successful six months in which we have demonstrated our ability to take the key products in our pipeline to the next stages of development, established a third major licensing deal and successfully executed a secondary fundraising. We look forward to building on the achievements of the first six months reporting on further clinical trials and progressing our US licensing discussions for VR315, as well as integrating the acquisition of Innovata plc that has been announced today."

There will be a meeting and conference call for analysts today at 9.30am GMT at the offices of Financial Dynamics. Please contact Claire Rowell at Financial Dynamics on 020 7269 7285 for details.

Enquiries:

Notes to Editors:

Vectura's principal focus is the development of a range of inhaled drugs for the treatment both of lung diseases and other conditions where optimised delivery via the lungs can provide significant benefits, such as a rapid onset of action, improved efficacy and improved tolerability compared with current therapies.

Vectura's products combine its proprietary, innovative, pulmonary formulation and device technologies (Aspirair ® , GyroHaler ® and PowderHale ® ) with existing, off-patent drugs either for use in new indications or to provide inhalation as an improved route of administration. Using drugs that have already been approved in some form in at least one major pharmaceutical market lowers the risk of product development failure compared to new chemical entities. Vectura is able to secure patent protection for its portfolio by identifying new indications for off-patent compounds and applying the Company's proprietary delivery technologies to create new methods of administration. The Company has development collaborations with a number of companies, including Boehringer Ingelheim, Novartis, GSK and Chiesi and an un-named leading international pharmaceutical company.

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

This press release contains "forward-looking statements," including statements about the discovery, development and 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 adverse results in clinical development programs; failure to obtain patent protection for discoveries; 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 statement. 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.

The full Vectura Group plc Preliminary Results announcement (17/11/06) in PDF format.