LONDON--Vectura Group PLC (>> Vectura Group PLC), an inhaled airways products device firm, said Thursday its partner Bayer AG (>> Bayer AG) has launched Breelib, a new nebuliser for Ventavis (iloprost), in Poland, triggering a 5 million euro ($5.33 million) milestone for the group.
Vectura added that it is eligible to receive annual milestones on the anniversary of this first launch on a decreasing scale, over six years, to the total value of EUR5.75 million.
The application of Ventavis with the Breelib nebuliser was approved by the European Medicines Agency in October 2016. Following the EC Declaration of Conformity, marketability of the medical device was granted by the E.U. Notified Body in December 2016.
Shares at 1245 GMT down 0.9 pence, or 0.6%, at 153.10 pence.
-Write to Ian Walker at [email protected]; @IanWalk40289749