The tie up allows the US based company to carry forward the clinical development, manufacturing and commercialization of VR315 product.
Vectura will provide support for the US development of VR315, for which it will receive an initial payment of $10m and up to $35m upon achievement of pre-determined development milestones.
The undisclosed company is also responsible to pay a royalty from all VR315 US sales to Vectura.