Biotech firm Vectura has been acquired by American private equity firm The Carlyle Group in a deal worth nearly £1 billion.
Chippenham-based Vectura develops inhaled therapies for the treatment of respiratory diseases, including the asthma drug Flutiform.
The company, which is based on the Bumpers Farm industrial estate, is currently working with Inspira Pharmaceuticals, a new UK-based company focused on developing therapies for respiratory and infectious diseases, on developing an inhaled Covid treatment.
A £958 million ($1.36 billion) takeover deal was agreed this morning. Shares jumped 31 percent to 160p on the news.