Boehringer Ingelheim has concluded its collaboration with Vectura by mutual consent. Under the terms of the agreement, signed in April 2006, Boehringer Ingelheim has worked with Vectura to develop a dry powder multi-dose inhaler. This collaboration has added to Vectura’s and Boehringer Ingelheim’s intellectual property portfolios.
Having completed the device design phase of the agreement, both Vectura and Boehringer Ingelheim decided that the original terms agreed over three and half years ago no longer reflect the companies’ changing requirements. There is an opportunity to structure more appropriate deal terms should a subsequent agreement be negotiated with Vectura in the future.
The company said that in 2006, Vectura signed a worldwide licence and collaboration agreement with Boehringer Ingelheim to develop a dry powder inhaler for its proprietary respiratory products for the treatment of asthma and COPD.
Under the terms of the agreement, Vectura received an initial payment of E5m and a E10m equity investment and an additional payment of E10m and a further E5m equity investment in November 2007. Further payments and investments will be made when certain clinical, regulatory and commercialisation milestones are successfully achieved. In addition, royalties will be paid on any future product sales using the dry powder inhaler.