In a business update, Vectura Group said that the company is focusing its R&D strategy on partnerships for development of its inhaled drug candidates. The company also said that it is considering how to structure a proposed £50 million return of capital which it expects to begin this year as a result of its “reducing R&D risk profile, future cash generation expectations and strong cash balance.”
In May 2019, a jury awarded Vectura almost $90 million in a patent infringement suit related to GSK sales of Ellipta DPIs. The company also highlighted strong revenues from sales of Flutiform in the first quarter of 2019.
Vectura said that its strategy for inhaled drug development “will move towards offering development services where a smaller proportion of the overall contract value is delivered through contingent milestones” and that it “will continue to invest in new proprietary platform technologies, creating intellectual property to drive future licensing and royalty income.”
Vectura Interim CEO Paul Fry commented, “Vectura has a rich heritage in developing innovative inhaled drug delivery solutions and we believe we provide a differentiated offering to partners. We see an attractive, growing market opportunity for these services, and this is where our focus is set for the future. Today we are confirming that our R&D investment priorities will be clearly aligned to this partnering focus.”
Specifically, the company cited its search for a partner for Phase 3 development of VR647 nebulized budesonide, noting that it held an end of Phase 2 meeting with the FDA in May of this year. In August 2018, Vectura announced results from two studies of VR647 in pediatric asthma patients.
Read the Vectura press release.
