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On 14 February 2023, Arecor Therapeutics plc signed an additional formulation study agreement with a top five global pharmaceutical partner. This agreement, which marks Arecor's eighth new technology partnership since its June 2021 IPO and builds on a collaboration from 2022, stipulates that Arecor will use its Arestat™ platform to develop improved, stable, high concentration, liquid formulations of a proprietary product. The partner company will fund this initial development and holds an option to acquire licensing rights to the new formulations and associated intellectual property.
| Date | 14 Feb 2023 |
| Time | 07:01:01 |
| Category | Acquisitions and alliances |
| ID | 7899P |
Arecor Therapeutics plc
("Arecor" or the "Group")
ARECOR STRENGTHENS COLLABORATION WITH TOP 5 GLOBAL PHARMACEUTICAL PARTNER THROUGH ADDITIONAL FORMULATION AGREEMENT
- Eighth new technology partnership with major pharmaceutical and biotech companies since IPO
Cambridge, UK, 14 February 2023: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, today announces that it has signed an additional formulation study agreement with its top five global pharmaceutical partner, building on a collaboration formed in 2022.
Under the terms of this agreement, Arecor will use its proprietary formulation technology platform, Arestat™, to develop improved, stable, high concentration, liquid formulations of its proprietary product. The partner company will fund the initial development work and have the option to acquire the rights to the new proprietary formulations and associated intellectual property under a technology licensing model. This agreement follows the first agreement with the partner company, announced in June 2022.
Sarah Howell, Chief Executive Officer of Arecor, said: "The expansion of this important collaboration with a leading pharmaceutical company clearly demonstrates Arecor's expertise and the adaptability of our Arestat™ platform. This is the eighth new technology partnership with major pharmaceutical and biotech companies since Arecor's IPO in June 2021, which shows the need for our technology among leading pharmaceutical companies developing innovative products.
"This is key to the positive impact we can bring to our partners' development programmes, not only providing upside potential to Arecor from future licensing opportunities, but also further cementing our reputation within the industry as the go-to partner for challenging and complex formulation expertise."
-ENDS-
For more information, please contact:
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Arecor Therapeutics plc |
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Dr Sarah Howell, Chief Executive Officer |
Tel: +44 (0) 1223 426060 Email: [email protected] |
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Susan Lowther, Chief Financial Officer |
Tel: +44 (0) 1223 426060 Email: [email protected] |
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Mo Noonan, Communications |
Tel: +44 (0) 7876 444977 Email: [email protected] |
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Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) |
Tel: +44 (0) 20 7886 2500
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Consilium Strategic Communications |
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Chris Gardner, David Daley, Lindsey Neville |
Tel: +44 (0) 20 3709 5700 Email: [email protected] |
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary formulation technology platform, Arestat™, we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver enhanced formulations of their therapeutic products. The Arestat™ platform is supported by an extensive patent portfolio.
For further details please see our website, www.arecor.com