Pulmatrix (NSDQ:PULM) said today that it licensed its inhaled COPD drug to Vectura.
The PUR0200 compound combines tiotropium bromide and Pulmatrix’s iSperse drug-delivery technology. Vectura plans to use its dry powder inhaler device to deliver PUR0200, the company said.
“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,” Pulmatrix CEO Robert Clarke said in prepared remarks.
“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.”
According to the deal, Pulmatrix is slated to shift the development and manufacturing activities for PUR0200 to Vectura. In turn, Vectura will pay a technology access fee of $1 million to Pulmatrix, contingent upon meeting certain development criteria.
Vectura will also pay Pulmatrix a mid-teen percentage share of any future revenues that it makes relating to the development and sale of PUR0200.
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