GSK Pays Vectura £10M for Access to Its Formulation Technologies
Nonexclusive deal could bring Vectura another £10M in milestones and £13M in annual royalties.!--h2>
GlaxoSmithKline (GSK) is paying Vectura £10 million (about $15.7 million) up front for a nonexclusive license to use certain of the latter’s dry powder formulation technologies in combination with two late clinical-stage respiratory product candidates. Vectura could receive another £10 million in milestone payments if GSK manages to launch both products, and up to another £13 million ($20.4 million) in annual royalties.
Vectura is focused on the development of a range of inhaled therapies principally for the treatment of respiratory diseases. The firm has eight products marketed by its partners and a portfolio of drugs in clinical and preclinical development both in house and through partnerships with industry. The inhaler and formulation technologies underpinning its products include GyroHaler®, OmniHaler®, Aspirair®, Clickhaler®, Duohaler®, Unit Dose DPIs, and PowderHale®.
Vectura also licenses these technologies to pharmaceutical companies on a nonexclusive basis for products that it believes will complement its overall business strategy and commercial returns. Partnerships range from the complete development of an inhaled pharmaceutical product to the licensing of inhalation devices or formulation technologies for use by a partner in the development of their own drugs. Vectura says estimates suggest the global markets for asthma and chronic obstructive pulmonary disease therapeutics currently top $25 million and are expected to grow by 30% over 10 years.