Vectura Group PLC - Proposed move to the Official List from AIM
13 July 2007
13 July 2007, Chippenham, UK. Following the announcement by Vectura Group plc (“the Company”) (AIM: VEC), on 4 June 2007 of its intention to apply for admission to the Official List of the UK Listing Authority (the "Official List"), application has now been made for the Company's issued ordinary shares to be admitted to the Official List and to be traded on London Stock Exchange plc's market for listed securities ("Admission") and for the cancellation of the Company's issued ordinary shares on AIM. It is intended that Admission will become effective at 8.00 a.m. on 18 July 2007 and that trading in the Company's shares on AIM will cease at the same time.
Dr Chris Blackwell, Chief Executive of Vectura, commented:
“We are delighted to be moving from AIM to the Main Market in London, where we believe we will see additional liquidity and a higher profile with investors.”
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Enquiries:
Vectura Group plc +44 (0)1249 667 600
Dr Chris Blackwell
Anne Hyland
Julia Wilson
Piper Jaffray +44 (0)20 3142 8700
David Rasouly
Will Carnwath
Financial Dynamics +44 (0)20 7831 3113
David Yates
John Gilbert
About Vectura
Vectura is a pulmonary drug development company focused principally on the development of a range of inhaled therapies for the treatment of respiratory and neurological diseases. The respiratory market is forecast to achieve sales of $32 billion by 2011. Vectura develops products to treat respiratory diseases such asthma, COPD and cystic fibrosis. Vectura also develops products where optimised delivery via the lungs into the blood stream can provide significant benefits, such as a rapid onset of action, improved efficacy and improved tolerability compared with current therapies.
Vectura has eight marketed products and a portfolio of drugs in clinical and pre-clinical development, some of which have been licensed to major pharmaceutical companies. The Company also seeks to develop certain programmes further through development to optimise value at a later licensing stage. Vectura also offers its formulation and inhalation technologies to other pharmaceutical companies on a licensing basis where this complements Vectura’s business strategy.
Vectura has development collaborations with a broad range of pharmaceutical companies including Boehringer Ingelheim, Novartis, and Chiesi. The acquisition of Innovata in January 2007 brought established alliances with a number of additional companies, such as Baxter, GSK, Merck KGaA, UCB and Otsuka as well providing revenue streams, complementary products and critical mass.
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.
