Core purpose, values and strategy

Vectura's core purpose

To establish a world-class specialty pharmaceuticals company that improves the quality of patients' lives and is driven by the enthusiasm and commitment of our staff.

We will create value for ourselves and our shareholders centred on the innovative development of products targeting the lungs.

Vectura's main values

Achievement

Our success depends on satisfying the needs of our customers. We set ourselves challenging goals and we are proud of delivering on our commitments.

Enthusiasm

We welcome enthusiastic people who give their best and encourage others to do the same. We take our work seriously and value what we do, but we also want to enjoy what we are doing.

Participation

We can be successful only by working together. We want everyone to share in that success, so we support and encourage our colleagues. We are also keen to protect the flexibility and informality of the Group as we grow.

Innovation

We want people to think freely and creatively about what we are trying to achieve.

Trust and respect

We want to work in an atmosphere of mutual trust and respect where people and ideas are valued on their merits, and where we recognise the contribution and achievements of everyone in the business.

Vectura's strategy is to target the treatment of diseases associated with the lungs

The Group has a broad clinical portfolio that combines valuable mid and late-stage programmes with high-potential, earlier-stage opportunities and has a wide range of device and formulation technologies addressing large and fast-growing market sectors. The respiratory development pipeline comprises inhaled formulations of both branded and generic products for the treatment of asthma, chronic obstructive pulmonary disease and cystic fibrosis.

Vectura seeks value from its other pipeline products through out-licensing

Vectura has developed therapies for indications such as Parkinson's disease, which it is actively seeking to out-license.

Vectura's goal is to be a cash-generative business that creates value for its shareholders through:

• its intellectual property and expertise in inhaled product development, which allows Vectura to:
• out-license products to major pharmaceutical companies in return for revenues from milestones and royalties
• develop or co-develop specialty products to regulatory approval or beyond, to capture maximum value from licensing at a later stage of development or from sales revenues
• entering into technology collaborations with pharmaceutical company partners to exploit both the generic and branded markets for the joint development of high-value inhaled product opportunities, and
• continuing to build its franchise through internal innovation as well as exploring opportunities for the acquisition of products, technologies or businesses that support these goals.