The UK's Vectura Group and Sosei say their joint Phase IIb trial for an experimental therapy to treat COPD finished successfully, laying the groundwork for a share offering by Vectura. The trial of 335 subjects tested four doses of NVA237 inhaled once daily for 28 days. NVA237 is being developed and commercialized by Novartis both as a monotherapy and in combination with their once daily bronchodilator indacaterol under a global license agreement signed in April 2005. Vectura separately announced that it would raise £43 million through a sale of shares to institutional investors. Much of that money will go to investigate VR040 for Parkinson's disease. Vectura called off a similar attempt just weeks ago citing weak investor demand.
- here's the release on the trial data
- read the AFX report on the share offering