Vectura and SkyePharma form strategic alliance for pulmonary delivery technologies
02 Jun 2004
Vectura and SkyePharma form strategic alliance for pulmonary delivery technologies
Vectura Limited ("Vectura") today announces that it has entered into a strategic alliance with SkyePharma PLC (LSE: SKP, Nasdaq: SKYE) in the area of pulmonary delivery technologies. Both companies are leaders in the field of drugs delivered to the lung and see mutual benefit from collaborating in this rapidly growing area. Through this alliance, SkyePharma will acquire rights to use Vectura's Aspirair dry powder inhaler device for certain macromolecules on a non-exclusive basis. Although detailed commercial terms were not released, SkyePharma has made a £2 million equity investment (approximately 4% on a fully diluted basis) in Vectura as part of the alliance.
Dr Chris Blackwell, Chief Executive of Vectura, commented: "Our primary focus is on the development of our own inhaled drugs for local and systemic use, the latter requiring the high lung penetration and low variability that our Aspirair technology makes possible. Aspirair has been developed because of the need for a device that delivers dry powders with high efficiency to the deep lung, and a device that is suitable for delivery of both small molecules and macromolecules, such as proteins and peptides. The Aspirair device is therefore a key element of our own product developments and this agreement, with SkyePharma, is an additional validation of this technology."
Michael Ashton, Chief Executive of SkyePharma, said: "SkyePharma already has a growing presence in the important and fast-growing pulmonary delivery market. Foradil Certihaler , which we co-developed with Novartis, has now received its first European approval and an "approvable" letter was issued by the US Food & Drug Administration in October last year. We have also recently signed a second agreement with Novartis to jointly develop a dry-powder inhaler version of QAB 149, Novartis' novel long-acting bronchodilator, and an agreement with GlaxoSmithKline to license our formulation technologies for application to the delivery of respiratory drugs, either by breath-actuated dry powder inhaler or by metered-dose aerosol inhaler. This new alliance with Vectura will reinforce our capabilities in this important area. In particular it gives SkyePharma the opportunity to enter the promising area of pulmonary delivery of protein and peptide drugs."
For further information please contact:
Vectura Limited
Dr Chris Blackwell (CEO)
Tel: +44 (0)1249 667700
Fax: +44 (0)1249 667701
Email: enquiries@vectura.com
Financial Dynamics
David Yates / Lucy Briggs
Tel: + 44 (0) 207 269 7242
