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From Peel Hunt wed - nice 248p target price.

Janssen's prior acquisition of Respivert is certainly an intriguing portent....

"Vectura (Buy TP 248p)
Janssen deal.

Vectura announced a deal with Janssen Biotech (part of J&J and developer of approved drugs such as Zytiga) for the exclusive development of Janssen's novel anti-inflammatory therapies in development for the treatment of asthma/COPD. The collaboration will initially focus on the development of a Phase 2 candidate, with the potential to include additional clinical-stage candidates. Janssen will lead the clinical development of the assets, with Vectura providing its expertise and technologies (devices, formulation) in dry powder inhalers (DPI).

This deal is in line with the strategy outlined at the Business Review Day last March, which unveiled Vectura's Gyrohaler-related devices platform, which includes several different device options, as an approved multi-dose DPI platform available for licensing. Detailed deal terms are not disclosed, but we would imagine a typical structure of modest 7 figure upfronts and milestones together with full FTE funding of Vectura resources (people) and mid single digit royalties on eventual sales. Such a structure implies no rise in Vectura's own R&D investment, though will utilise some of the bandwidth of its employee base, in return for near-term milestones and development services payments and a share in the upside should the products get to market.

The precise products are not disclosed, but note that Janssen acquired the UK companyRespivert a few years ago, which has a promising portfolio of anti-inflammatory compounds in development. This deal is a positive step forward, adding a further large pharma partner and is exactly in line with Vectura's stated strategy and is a validation of its status as a partner of choice in targeting airways diseases. We make no changes to our valuation at the moment pending more information on this programme in the future."

More here about this being a "multi-million dollar" deal:

Http://www.businessweekly.co.uk/biomedtech-/18009-vectura-clinches-multi-million-dollar-janssen-deal

Extract:

"Tuesday, 06 January 2015 09:08
Tony Quested

Vectura clinches multi-million dollar Janssen deal
.
Vectura in Cambridge UK has secured a landmark deal with US heavyweight Janssen Biotech Inc to develop inhaler technology to treat asthma and COPD (chronic obstructive pulmonary disease).

While no financial deals were disclosed to the markets, Business Weekly understands the payback stacks up to several million dollars.

The deal comprises handsome upfront and development milestones and a tiered royalty on net sales.

etc"

Vectura to present at JP Morgan Conference

RNS

RNS Number : 5910B
Vectura Group plc
09 January 2015




Vectura Group plc


Vectura to present at the 33rd Annual J.P. Morgan Healthcare Conference, San Francisco

Chippenham, UK - 9 January 2015: Vectura Group plc ("Vectura"; LSE: VEC) announces today that it is scheduled to present at the 33rd Annual J.P. Morgan Healthcare Conference on Wednesday, 14 January 2014, at 4:30pm PST (12.30am 15 January GMT). The conference runs from 11-15 January 2015, at the Westin St. Francis Hotel in San Francisco, CA.

The presentation will be webcast live and can be reached from Vectura's website at http://www.vectura.com/investors/reports-presentations/2015.aspx. Listeners are encouraged to visit the site at least 15 minutes prior to the scheduled presentation to register, download and install any necessary audio software. A PDF of the presentation will also be available on Vectura's website at the same time.

-Ends-


Enquiries

Vectura Group plc
+44 (0)1249 667700
Karl Keegan, Chief Corporate Development Officer
Fleur Wood, Corporate Investor Relations



FTI Consulting
+44 (0)20 3727 1000
Ben Atwell / John Dineen / Ulla Lundhus

6 Jan 2015 Vectura Group PLC VEC JP Morgan Cazenove Overweight 142.38 144.75 - - Reiterates

NDA acceptance for QVA149 and NVA237
RNS
RNS Number : 6561G
Vectura Group plc
05 March 2015



Vectura Group plc



US FDA filing acceptance of NDAs for QVA149 and NVA237



Chippenham, UK - 5th March 2015: Vectura Group plc (LSE: VEC; "Vectura" or "the Company"), confirms that Novartis' New Drug Applications (NDAs) for QVA149 and NVA237 for the long-term maintenance treatment of chronic obstructive pulmonary disease (COPD) have been accepted for review by the US Food and Drug Administration (FDA). The filings were submitted by Novartis in Q4 2014. The acceptances trigger milestone payments to Vectura of $12.5m and $7.5m respectively.

-Ends-

A moderately good start to the year and climbing Sp has been lost after they ann a problem with major drugs co SKB ( DYOR )...it seems previous deals have been rather poor, with VEC getting rather little for "better" powders. Now they appear to have the inhaler/delivery improved further. . . you'd expect that would mean they'd share the profits - but it seems there is an issue and SKB have the upper hand ( Unless VEC can find ANOther to distribute the product . . . makes me wonder if BTG Sales force couldn't do this as they should by now have the warehousing ).
One wonders if the income won't dip in the short-term meaning there will be a cash-call - Oh dear.
Their products appear to be good-enough against existing puffers . . . . but to get the Market excited, I think they need to make it far clearer how these differ and why one model is better-suited, compared with another they make . . .otherwise it looks like clutter, to my mind.
8 Sept 2016...sp ~150p
EDIT (24April2017)-sp ~150p nothing worthwhile to report, I guess.
EDIT(20Oct2018)-oh dear sp 70p ish.... mighty fallen... anyone?
EDIT (25NoV2018)- Seems VEC's sp was hardly knocked with the failure of asthma-trial . . . you'd think just giving a puff to someone with asthma would show if it worked - if not, then move-on. Why put money into Trials if it didn't hold great promise?