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Vectura benefits from Breelib launch in Poland

05 April 2017 13:53

Vectura has confirmed that its partner Bayer has launched Breelib, the new nebuliser for Ventavis, in Poland.

Breelib has been developed by Bayer in collaboration with Vectura, adapting Vectura's FOX handheld smart nebuliser device and utilising its unique flow rate and volume control technology.

The launch triggers a €5m milestone for the Group.

The Company added:

"Whilst the future financial value of this programme for the Group will be limited given the small patient population, this launch is an important validation of the FOX technology and its future potential."

Vectura is eligible to receive annual milestones on the anniversary of this first launch on a decreasing scale, over six years, to the total value of €5.75m.

James Ward-Lilley, Chief Executive Officer of Vectura:

"We are pleased to have supported Bayer in this collaboration enhancing drug delivery and ease of device usage for patients with pulmonary arterial hypertension. The launch of the Breelib device marks an important validation of Vectura's mesh based handheld device technology using the FOX smart nebuliser. Breelib's proprietary flow-rate and volume control system is also utilised in Vectura's jet based AKITA nebuliser platforms. Vectura expects to increase the utilisation of the mesh based nebuliser platforms with a number of further partnering collaborations."

At 1:53pm: (LON:VEC) Vectura Group PLC share price was -0.4p at 153.6p

Story provided by StockMarketWire.com

Related Company: VEC

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