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Arecor Therapeutics plc announced on January 8, 2024, the expansion of its existing exclusive formulation study collaboration with an unnamed pharmaceutical partner. The collaboration, which commenced in November 2022, will now involve Arecor undertaking additional in-house development activities. The partner will provide additional funds for this expanded work and retains an option to acquire the rights to the new proprietary formulation and associated Intellectual Property.
| Date | 8 Jan 2024 |
| Time | 07:00:03 |
| Category | Miscellaneous |
| ID | 8679Y |
Arecor Therapeutics plc
("Arecor" or the "Group")
ARECOR ANNOUNCES EXPANSION OF EXISTING SPECIALTY HOSPITAL FORMULATION COLLABORATION
Cambridge, UK, 8 January 2024: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, today announces the expansion of its ongoing, exclusive formulation study collaboration with the pharmaceutical division of one of the world's largest chemicals marketing and pharmaceuticals companies, which focuses on the development and commercialisation of speciality drugs.
The collaboration, in which Arecor is using its proprietary formulation technology platform, Arestat™, to develop a differentiated, ready-to-use liquid formulation of its partner's product, AT351, has progressed significantly since it began in November 2022. Arecor will now undertake additional in-house activities to accelerate the development programme, enabling rapid progress towards its partner's Pre-Investigational New Drug (Pre-IND) meeting with the US FDA.
The partner will provide additional funds for Arecor's expanded development work and continues to have an option to acquire the rights to the new proprietary formulation and associated Intellectual Property under Arecor's technology licensing model to further develop and commercialise the product.
Sarah Howell, Chief Executive Officer of Arecor, said: "The rapid progress of this collaboration and expansion of the development project illustrate the value that our proprietary technology platform, Arestat™, and our experience in the specialty hospital field, can bring to our partners and the development of differentiated medicines to improve patient outcomes."
This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK MAR").
-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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ICR Consilium |
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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 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 therapeutic products. The Arestat™ platform is supported by an extensive patent portfolio.
For further details please see our website, www.arecor.com