Arakis-Vectura Novartis Collaboration
From the Vectura press release of April 13 2005: "Vectura Group plc (LSE: VEC) and Arakis Ltd today announce that they have signed a global development and commercialisation agreement with Novartis for their collaborative product NVA237, a novel once daily, long acting antimuscarinic agent for the treatment of chronic obstructive pulmonary disease (COPD).
Novartis will be responsible for developing NVA237 both as a monotherapy and in combination with QAB149, its once daily, long acting beta 2 agonist currently in Phase II clinical development.
Developed to date through a joint venture between Arakis and Vectura, NVA237 is a once-daily, long-acting muscarinic antagonist (LAMA) with a fast onset of action. The compound is in Phase II trials for the treatment of COPD and studies have thus far demonstrated that it is well-tolerated and effective over 24 hours after a single dose. NVA237 was originated by Arakis and has been developed using Vectura’s proprietary PowderHale � inhalation technology for delivering product to the lung and optimizing fine particle fraction delivery through a commercially available dry-powder inhaler device.
Under the terms of the agreement Arakis and Vectura will each receive an initial payment of $15 million. Clinical, regulatory and commercialisation payments to each of Arakis and Vectura will be payable upon the achievement of pre-agreed targets, which could total up to $172.5 million each for both the monotherapy and combination product. Such initial payment plus potential milestones thus total up to $375 million. In addition, royalties on product sales will be paid for the monotherapy and the combination product . If a third combination product is developed by Novartis, using NVA237, further milestones and royalties may be payable on that product."
Novartis will be responsible for developing NVA237 both as a monotherapy and in combination with QAB149, its once daily, long acting beta 2 agonist currently in Phase II clinical development.
Developed to date through a joint venture between Arakis and Vectura, NVA237 is a once-daily, long-acting muscarinic antagonist (LAMA) with a fast onset of action. The compound is in Phase II trials for the treatment of COPD and studies have thus far demonstrated that it is well-tolerated and effective over 24 hours after a single dose. NVA237 was originated by Arakis and has been developed using Vectura’s proprietary PowderHale � inhalation technology for delivering product to the lung and optimizing fine particle fraction delivery through a commercially available dry-powder inhaler device.
Under the terms of the agreement Arakis and Vectura will each receive an initial payment of $15 million. Clinical, regulatory and commercialisation payments to each of Arakis and Vectura will be payable upon the achievement of pre-agreed targets, which could total up to $172.5 million each for both the monotherapy and combination product. Such initial payment plus potential milestones thus total up to $375 million. In addition, royalties on product sales will be paid for the monotherapy and the combination product . If a third combination product is developed by Novartis, using NVA237, further milestones and royalties may be payable on that product."
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