Vectura, Mundipharma deal

Mundipharma and an associated, undisclosed U.S. company exercised an option from Vectura to license exclusive, worldwide rights to VR2076 (formerly SKP-2076) to treat asthma. Vectura received €1.5 ($1.6 million) up front and is eligible for up to €46.5 million ($48.8 million) in development, regulatory and product launch milestones, plus royalties starting around the mid-single-digits.

Mundipharma may also develop VR2076 for chronic obstructive pulmonary disease (COPD). If COPD is selected, Vectura would be eligible for up to €20 million ($21 million) in additional regulatory milestones, plus royalties at the rate of the asthma agreement. Vectura is eligible for undisclosed sales milestones for both indications. ...