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news.Vectura Group, a UK-based inhalation product development company, has received a E2.5 million European milestone payment in relation to progress on the development of its combination asthma/chronic obstructive pulmonary disease product VR315.
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VR315 is being developed as a generic product delivered with Vectura’s GyroHaler dry powder inhaler delivery device.
Vectura licensed the European rights for VR315 to Sandoz, the generics division of Novartis, in March 2006 and the US rights were licensed on a cost share/profit share basis in December 2006.
Chris Blackwell, CEO of Vectura, said: “VR315 is a major opportunity and this payment is indicative of the progress we are making. Our VR315 programs are linked, so progress in Europe is also likely to benefit our US program. Further news will be announced as this product gets closer to market.”