Vectura set to get $2.5m milestone payment from Novartis
Vectura Group announced on Friday that it will receive a $2.5m milestone payment under an exclusive licence agreement with Novartis.
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The London-listed firm said the payment was triggered following the acceptance of Novartis' valid Marketing Authorisation Application (MAA) by EU regulatory authorities for the approval of QVM149 - a potential new inhaled combination therapy for inadequately-controlled asthma.
“We are pleased to see the progression of the QVM149 program and the acceptance of the EU registration dossier ahead of its original timeline,” said Vectura chief executive officer James Ward-Lilley.
“Based on the strong phase 2 study results for QVM149 presented at ATS this week, we believe this new asthma treatment has the potential to have a competitive profile and provide an important and compelling additional option for physicians and patients.”
Vectura said QVM149 combined comprehensive bronchodilation of indacaterol acetate and glycopyrronium bromide, with mometasone furoate in a precise once-daily formulation delivered in a dry-powder inhaler device.
Vectura and Sosei Heptares exclusively licensed glycopyrronium bromide and certain intellectual property relating to its use and formulation to Novartis in April 2005, with Novartis responsible for the development and commercialisation of QVM149.
Vectura said it was due to receive a further milestone payment of $5m on European regulatory approval of the product, and thereafter royalties on net sales from launch.