Vectura anticipates potential royalty and milestone payments on Fibrocaps
UK-based developer of inhaled therapies Vectura (LSE: VEC) confirms that the completion of the acquisition of Netherlands-based ProFibrix by the USA’s The Medicines Company (Nasdaq: MDCO), will lead to Vectura receiving a one-off payment and potential future royalty and milestones.
In accordance with the terms of a licensing agreement between Vectura and ProFibrix, Vectura will receive a £2 million (around $3 million) change of control payment and it will also earn a low single digit royalty for sale of Fibrocaps in the major territories. As a shareholder of ProFibrix, Vectura will receive a $1.5 million milestone related to the successful outcome of the Phase III study of Fibrocaps and Vectura will potentially receive further payments based on certain approval and sales milestones. ProFibrix' lead biologic Fibrocaps is being studied for treatment of bleeding during surgery and after trauma injury.
Fibrocaps meets all endpoints
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