Liquidia Corporation announced that its wholly owned subsidiary, Liquidia Technologies, Inc., has entered into an exclusive licensing agreement with Vectura Limited. Under the terms of the agreement, Liquidia Technologies will pay Vectura an upfront payment of $2 million, development milestone payments of up to $12 million, and sales milestone payments of up to $92.5 million, in addition to royalty payments at rates in the middle single digits based on commercial sales in the United States. The agreement grants Liquidia Technologies the exclusive right to develop, manufacture, and commercialize products containing treprostinil, including the L606 product, administered via Vectura's nebulizer device for the treatment of hypertension and interstitial lung diseases. Vectura will be responsible for manufacturing and supplying the device. The agreement includes provisions for termination by either party under certain conditions.