Vectura Limited
One of the world’s most dynamic and forward-thinking pulmonary
drug development companies is based in the South West of
England.
Vectura Group plc was founded in 1997 with the
aim of developing emerging technologies in the fast-growing field
of drug delivery. Two years later, the company acquired
Co-ordinated Drug Development Ltd, owned by a group of academic
pharmaceutical scientists, and the Centre for Drug Formulation
Studies, established at the University of Bath. The foundations
were in place for a company with expertise in the development of
drugs for inhalation. This was confirmed with the acquisition in
2002 of Cambridge-based Vivid Medical, bringing with it its unique
Aspirair® technology and subsequently the
GyroHaler® technology .
As it has grown and built a world-wide
reputation, Vectura has remained true to its roots in the South
West of England. Chief Executive, Chris Blackwell explains why:
“A company is its staff and we have built a
superb team of 150 people here in Chippenham. Some of these people
have been recruited locally, from universities like Bristol and
Bath, which have a good output of high quality graduates. Others
have been recruited from elsewhere. It can take time to find the
right calibre of people but we rarely have a problem getting them
to come here. People recognise the South West for its beauty and
great quality of life. The region has clear business benefits, too.
It is just an hour to London by train and the reliability of the
service is improving all of the time; something that is important
for me as my job takes me to London frequently. Also, we don’t have
the same high land costs as the capital. In recent years, Vectura
has invested around £4 million in the region, creating a
purpose-built facility with state-of-the-art premises. Much of our
development work takes place here.”
Vectura earned a place in the record books in
2006 when it successfully raised $45 million; the biggest biotech
sector funding the UK had ever seen. Some of these funds are
being used to co-develop VR315; an inhaled combination asthma
therapy that is being developed as a generic product using the
Company’s GyroHaler® delivery device. Analysts
predict that the drug will achieve peak sales of $1 billion per
year in the US alone.
GyroHaler® was developed by Vectura
to rival competitor products. It is easy to use, is likely to be
inexpensive to manufacture, and is capable of holding up to 60
separate doses, with drug sealed inside foil blisters to prevent
ingress of moisture.
While Vectura has built an international
reputation in the development of inhaled therapies for the
treatment of respiratory diseases, the company is now working to
realise the potential of pulmonary drug delivery in the treatment
of neurological diseases. In Parkinson’s disease, for example,
sufferers sometimes experience hypo-mobility episodes, where
voluntary movement of their body is very difficult. Apomorphine is
a drug that is already approved to treat these episodes and is on
the market as a sub-cutaneous injection, Vectura’s aim is to
deliver inhaled apomorphine using its inhaler, Aspirair®. This
works using air pressure to break up the drug in powder form into
fine particles, small enough to travel into the deep lung. The
inhaler produces a slow moving plume of fine powder to ensure that
it is inhaled effectively. Clinical development to date shows that
the inhaled drug – VR040 – is effective and produces relief in
sufferers rapidly after inhalation.
The potential markets for Vectura’s products
are huge and growing all the time. For example, the market for
chronic obstructive pulmonary disease, the world’s fourth biggest
killer, is estimated to be worth around $5.5 billion per annum.
With increasing diagnosis and treatment, it is predicted to double
to over $11 billion by 2011. In the same period, the respiratory
market as a whole is forecast to achieve sales of $32 billion.
Vectura also has pulmonary drugs in development for the treatment
of migraine.
Vectura is a financially stable company with a
strong cash position - over £77 million at its March 2007 year
end. It has grown steadily, both organically and via
acquisition; it’s most recent purchase being the January 2007
acquisition of the Nottingham-based company Innovata plc, bringing
a portfolio of eight revenue-generating products. The company
has come a long way since its conception in 1997 and in July 2007
transferred from the Alternative Investment Market to the official
list on the London Stock Exchange. In every way, the company’s
performance is breathtaking.