Arecor Therapeutics plc(“Arecor” or the “Group”)

FIRST PRODUCT INCORPORATING ARECOR’S ARESTAT TECHNOLOGY, AT220, LAUNCHED IN EUROPE First commercial sale triggers milestone payment and future royalties to Arecor

Cambridge, UK, 17 November 2023: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical company advancing today’s therapies to enable healthier lives, announces the triggering of a milestone payment from its global pharmaceutical partner, following the first commercial sale of a product, AT220, incorporating its proprietary Arestat™ technology platform.

Sarah Howell, Chief Executive Officer of Arecor, said: “The commercialisation of this product in Europe, the first to be launched incorporating our Arestat™ technology, is a significant milestone for Arecor and further demonstrates the strength of our Arestat™ platform and the value it can bring to our partners and ultimately patients. This also triggers a milestone payment and will lead to royalty payments, further underscoring our confidence in our strategy and the potential of our in-house portfolio and pipeline of partnered products to deliver long term value to shareholders.”

Under a license agreement entered into in 2017, Arecor developed a novel and differentiated formulation of its global pharmaceutical company partner’s product. Arecor has received earlier payments linked to specific development and commercial milestones, and moving forward, will receive revenue streams under the royalty bearing agreement from future sales.

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:

Arecor Therapeutics plc www.arecor.com
Dr Sarah Howell, Chief Executive Officer Tel: +44 (0) 1223 426060Email: info@arecor.com
   
Susan Lowther, Chief Financial Officer Tel: +44 (0) 1223 426060Email: info@arecor.com
   
Mo Noonan, Communications Tel: +44 (0) 7876 444977Email: mo.noonan@arecor.com
   
Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance)Rupert Dearden (Corporate Broking) Tel: +44 (0) 20 7886 2500
   
ICR Consilium  
Chris Gardner, David Daley, Lindsey Neville Tel: +44 (0) 20 3709 5700Email: arecor@consilium-comms.com

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

American Resources (NASDAQ:AREC)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more American Resources Charts.
American Resources (NASDAQ:AREC)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more American Resources Charts.