Pulmatrix licenses inahed COPD drug PUR0200 to Vectura
Pulmatrix announced that it has partnered with Vectura Group to develop Pulmatrix's drug candidate, PUR0200, for chronic obstructive pulmonary disease 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 $1M 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.