News

TechMARK movers: Vectura up on milestone payment

31 October 2008 13:34:00

Vectura will be receiving a £6m (€7.5m) milestone payment from Boehringer Ingelheim for the drug developer's work on a multi-dose dry powder inhaler (DPI).

AIM listed Vectura has now received milestones and equity payments of £30.2m (€37.5m) from the German drugs group since signing a deal on April 2006.

Boehringer Ingelheim is entitled to develop and market its proprietary respiratory medicines in a branded version of the inhaler to treat asthma and chronic obstructive pulmonary disease (COPD).

Shares in Sinclair Pharma dropped after the specialty pharmaceutical firm said it has put in place further facilities to meet peak funding requirements for 2008/9.

Chief financial officer Jerry Randall, chief executive Michael Flynn (through his wife Sookja Flynn) and non-executive director Jean-Charles Tschudin will lend a total of £350,000 to Sinclair group companies. The loans are repayable in April 2009 and are on arms length commercial terms.

In addition, Michael Flynn and Jean-Charles Tschudin are to invest a further £450,000 by way of a share subscription to take place during November 2008. The subscription will be at 23 pence per share based on the share price at market close on 30 October.
FTSE TechMARK - Risers
Torotrak (TRK) 13.50p +10.20%
Xaar (XAR) 58.25p +8.37%
Elan Corporation (ELA) € 5.35 +8.08%
Pace (PIC) 39.50p +7.48%
Wolfson Microelectronics (WLF) 83.75p +7.37%
SDL International (SDL) 236.25p +6.66%
Vectura Group (VEC) 45.00p +6.51%
Phoenix IT Group (PNX) 159.75p +5.79%
BATM Advanced (BVC) 38.50p +5.48%
Protherics (PTI) 34.75p +5.30%

FTSE TechMARK - Fallers
Sinclair Pharma (SPH) 19.50p -15.22%
Inion (IIN) 5.50p -13.79%
Trafficmaster (TFC) 11.50p -9.80%
Turbo Power Systems (TPS) 0.28p -8.33%
Anite Group (AIE) 27.50p -8.33%
Fidessa (FDSA) 601.00p -7.54%
Filtronic (FTC) 41.00p -6.82%
Vislink (VLK) 30.00p -6.25%
Parity Group (PTY) 8.50p -5.56%
Biocompatibles International (BII) 120.25p -4.18%

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