Vectura earns VR315 US development milestone
UK developer of inhaled therapies Vectura Group (LSE: VEC) says that it has triggered a milestone of $1.5 million associated with the development of VR315 in the USA.
In August 2011, Vectura signed a license agreement for the development, manufacturing and commercialization of VR315 in the USA with the US division of a leading (unnamed) international pharmaceutical company (The Pharma Letter August 3 2011). To date, Vectura has announced development milestones under this agreement totaling $6 million.
Further milestone due
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