Arecor Therapeutics PLC SPECIALTY HOSPITAL FORMULATION COLLABORATION (9078F)
November 10 2022 - 2:00AM
UK Regulatory
TIDMAREC
RNS Number : 9078F
Arecor Therapeutics PLC
10 November 2022
Arecor Therapeutics plc
("Arecor" or the "Group")
ARECOR ANNOUNCES EXCLUSIVE SPECIALTY HOSPITAL FORMULATION
COLLABORATION
Cambridge, UK, 10 November 2022: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives, today announces that it has signed an
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 .
Under the terms of the agreement, Arecor will use its
proprietary formulation technology platform, Arestat(TM), to
develop a differentiated, stable, liquid drug product, for
intravenous administration, that is Ready-to-Use ("RTU"). The new
liquid formulation of the product supports safe medication
practices and operational efficiency by eliminating the need for
reconstitution. The partner will fund the development work and has
the option to acquire the rights to the new proprietary formulation
and associated Intellectual Property under a technology licensing
model to further develop and commercialise the product.
This collaboration adds to Arecor's growing portfolio of
pre-license technology partnerships which, subject to licensing,
typically include both potential milestone and royalty payments and
could offer significant future recurring revenue upside potential
for the Group.
Sarah Howell, Chief Executive Officer of Arecor, said: "This
collaboration further demonstrates the strength of our proprietary
technology platform, Arestat(TM), and its potential in the
development of Ready-to-Use medicines. This is a field in which
Arecor is building a considerable portfolio of potential specialty
hospital products, as well as bringing our technology and
experience to further our partners' products. Our expertise in
formulating complex medicines, when combined with our partner's
global network and specific local knowledge of providing access to
the major markets worldwide, will be key to advancing these fast,
safe and effective treatments for patients."
-ENDS-
For more information, please contact:
Arecor Therapeutics plc www.arecor.com
Dr Sarah Howell, Chief Executive Officer Tel: +44 (0) 1223 426060
Email: info@arecor.com
Susan Lowther, Chief Financial Officer Tel: +44 (0) 1223 426060
Email: info@arecor.com
Mo Noonan, Communications Tel: +44 (0) 7876 444977
Email: mo.noonan@arecor.com
Panmure Gordon (UK) Limited (NOMAD Tel: +44 (0) 20 7886 2500
and Broker)
Freddy Crossley, Emma Earl (Corporate
Finance)
Rupert Dearden (Corporate Broking)
Consilium Strategic Communications
Chris Gardner, David Daley, Angela Tel: +44 (0) 20 3709 5700
Gray Email: 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 formulation technology
platform, Arestat(TM), 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(TM) platform is supported by an extensive patent
portfolio.
For further details please see our website, www.arecor.com
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END
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