Pulmatrix has partnered with Vectura Group to develop Pulmatrix's drug candidate, PUR0200, for chronic obstructive pulmonary disease (COPD) for the U.S. market. Vectura and/or its partners will be responsible for all future development costs to advance the product for the U.S.
Pulmatrix will provide the data package for PUR0200 and assist with the transfer of development and manufacturing activities to Vectura. As part of the agreement, a technology access fee of $1 million will be payable to Pulmatrix upon successful achievement of pre-agreed pharmaceutical development criteria. Vectura will commence development immediately and will pay Pulmatrix a mid-teen percentage share of any future revenues that Vectura receives relating to future development and sale of PUR0200 and PUR0200-related products including future combinations.
"Vectura has deep experience with inhaled drugs and innovative dry powder delivery technologies which makes them an optimal partner to advance PUR0200 as a better product for COPD patients," said Robert W. Clarke, Ph.D., Chief Executive Officer of Pulmatrix. "By out-licensing the program to Vectura, PUR0200 is in the hands of a partner with a demonstrated ability to develop drugs for COPD and allows Pulmatrix to focus on our product pipeline including PUR1900 and PUR1800."
PUR0200 combines tiotropium bromide, the active component in Spiriva, with Pulmatrix's iSPERSE drug delivery platform. Early stage clinical trials of PUR0200 have shown the product to be up to five times more efficient at delivering the drug to the lungs than the currently marketed product. Vectura will utilize its dry power inhaler device technology to deliver PUR0200, with the goal of providing enhanced delivery and a better device format of PUR0200 for patients.