Ventura and Boeh Ing sign R&D deal

UK-based drug developer Vectura says it has signed a worldwide collaboration, development and licensing agreement with German firm Boehringer Ingelheim. The collaboration will focus on the creation of a new dry powder inhaler for the delivery of BI's respiratory drugs, primarily for the treatment of asthma and chronic obstructive pulmonary disease.

The combined global COPD and asthma market, which Vectura says is currently worth $16.0 billion, is predicted to grow to over $32.0 billion by 2010.

The non-exclusive accord stipulates that the firms will collaborate on the project until the end of 2007, after which point the German firm will take responsibility for any further development, clinical evaluation and commercialization of the product. The Chippenham, UK-headquartered firm will receive an initial payment of 5.0 million euros ($6.2 million). BI will also make a 10.0 million-euro equity investment, purchasing 4.9 million ordinary shares or 3.8% of the UK group's share capital.