Vectura has announced that it will acquire Activaero for a total of €130 million ($181 million). The company cited both Activaero’s nebulizer technology and its pipeline of respiratory drugs as part of the rationale for the acquisition, saying that the deal “extends Vectura’s technology platform into smart nebulizer-based technology, broadening Vectura’s therapeutic offering by opening up possibilities for new drug-device products and partnerships.”
Activaero’s delivery systems include the Akita Jet, Apixneb, and Fox nebulizers based on the company’s FAVORITE (Flow And VOlume Regulated Inhalation TEchnology) inhalation technology.
The announcement described Activaero’s lead candidate, Favolir, an inhaled corticosteroid for the treatment of severe asthma, as “an un-partnered late-stage product with peak sales potential which exceeds the total deal consideration.” Vectura said that if will file a marketing authorization application for the product after one more clinical trial.
Vectura Chief Executive Chris Blackwell said, “We are determined to build further value in our company and this transaction represents an important step towards building a sustainable specialty pharma business. The acquisition is highly complementary to Vectura’s core capabilities, in line with our strategic priorities and, I believe, will enable us to build a therapeutic specialist in airways diseases. With this transaction, we create a much stronger entity with a balanced offering of products and technologies, both partnered and un-partnered. Our considerably deeper pipeline and new partnerships will provide us with the opportunity to drive organic growth. We see significant value in the combination of our respective respiratory expertise and believe that the combined company is well positioned to extract even more value from our broader technology base and potentially retain greater economics from pipeline assets.”
Actvaero CEO and Founder Gerhard Scheuch commented, “Vectura is well positioned to develop Activaero’s assets using its development expertise and building on its success in deriving value from its products. Our corporate partners and patients will greatly benefit from the new joint organization. It will allow us to even better serve our clients by offering a broader spectrum of innovative therapeutic options and services going forward. I am pleased to be able to continue my involvement in this organisation.”
Read the Vectura press release.
