UK-based biotech Vectura has agreed to be acquired by a U.S. private equity firm, the Carlyle Group, in a deal valued at $1.4 billion.

Vectura has been shifting its focus since 2019 to provide contract development and manufacturing services for other pharma companies for inhaled formulations of their drugs.  

Vectura’s portfolio currently includes 13 inhaled and 11 noninhaled products sold by different marketing partners, including Novartis, GlaxoSmithKline and Bayer. Vectura also has several drug candidates in various stages of clinical development.