RCS - Vectura Group plc - Vectura agreement with Kinaset Therapeutics Inc.
Vectura signs agreement with Kinaset Therapeutics Inc. to support the development of VR588 to treat asthma
Chippenham, UK - 30 November 2020: Vectura Group plc, an industry leading inhalation CDMO, today announces that it has signed a global out licence and development agreement with Kinaset Therapeutics Inc. for the development and commercialisation of VR588, a preclinical novel inhaled pan-JAK inhibitor for the prevention and treatment of severe asthma.
Pan-JAK inhibitors have been developed and tested in clinical trials, approved and commercialised for many different indications but mainly for the treatment of chronic inflammatory conditions associated with an overactive immune response. VR588 was previously developed by Vectura as part of its former speciality pharma pipeline. This agreement provides an opportunity for Vectura to realise value from its historical research and investment in VR588, whilst expanding its CDMO development services portfolio by supporting the product's further development with Kinaset.
Under the terms of the agreement, Kinaset's lead development programme will be an inhaled product for severe asthma delivered through a dry powder device. Vectura will provide fee for service development expertise to Kinaset to formulate this product to support Phase I studies, and ultimately through to commercialisation. Vectura will grant a license to Kinaset to develop and commercialise VR588, in return for development and sales milestones, and future royalties. Kinaset may pursue VR588 products in other indications and Vectura would be entitled to milestones and royalties on future products.
Will Downie, Chief Executive Officer of Vectura, commented: "We look forward to working closely with Kinaset to support their development of this product, with the potential to bring a new treatment option to asthma patients in the future. This agreement is in line with our CDMO strategy to leverage our deep expertise, built through years of research in inhaled drug development, to help customers bring new inhaled therapies to market."
Financial guidance for 2020 remains unchanged.
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For more information, please contact:
Vectura Group plc
David Ginivan - VP Corporate Communications
Elizabeth Knowles - VP Investor Relations
+44 (0)7471 352 720
+44 (0)7767 160 565
Consilium Strategic Communications
+44 (0)20 3709 5700
Mary-Jane Elliott / Susan Stuart / David Daley
About Vectura
Vectura is a provider of innovative inhaled drug delivery services that enable partners to bring their medicines to patients. With differentiated proprietary technology and pharmaceutical development expertise, Vectura is one of the few companies globally with the device, formulation and development capabilities to deliver a broad range of complex inhaled therapies.
Vectura has eleven key inhaled and eleven non-inhaled products marketed by partners with global royalty streams, and a diverse partnered portfolio of drugs in clinical development. Our partners include Hikma, Novartis, Sandoz (a division of Novartis AG), Mundipharma, Kyorin, GSK, Bayer, Chiesi, Almirall, and Tianjin KingYork.
For further information, please visit Vectura's website at www.vectura.com
About Kinaset Therapeutics
Kinaset is a Boston-based therapeutics company focused on the advancement of novel drugs in areas of unmet medical needs.
Kinaset Therapeutics intend to develop novel therapeutics that can positively impact people affected by intractable diseases, including severe asthma. Their novel lead asset and experienced team combine a potentially best in class approach to treating severe asthma with a group of dedicated drug development experts, working to bring the therapy forward. More information can be found at: www.kinasettherapeutics.com.
Forward-looking statements
This press release contains forward-looking statements, including statements about the commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward looking statements, including: commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
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