LONDON, June 14 (UPI) -- A British biotechnology firm developing an inhaled alternative to Viagra plans to list on the London stock market, Sky News reported Monday.
Vectura, based in Chippenham, Wiltshire, hopes to raise between $36 million and $46 million with its initial public offering.
If successful, it would give Vectura a market value of as much as $155 million.
Proceeds will be used to help develop Vectura's range of inhaled drugs, including treatments for erectile dysfunction and lung disease.
The company's inhaled alternative to Viagra, VR004, is delivered into the bloodstream in around eight minutes, faster than traditional pills, which can take an hour to act.
The company, in a joint venture with British biotech firm Arakis, is also testing an inhaled drug for chronic obstructive pulmonary disease.
