Arecor Therapeutics PLC Arecor announces collaboration with Par (9539A)
07 June 2021 - 04:00PM
UK Regulatory
TIDMAREC
RNS Number : 9539A
Arecor Therapeutics PLC
07 June 2021
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
EXCLUSIVE FORMULATION STUDY COLLABORATION WITH PAR STERILE
PRODUCTS TO DEVELOP
A STABLE READY TO USE PRODUCT
Cambridge, UK, 7(th) June 2021: Arecor Therapeutics plc (AIM:
AREC) , the biopharmaceutical company advancing today's therapies
to enable healthier lives, today announces that it has signed a
formulation study agreement with Par Sterile Products, LLC, an Endo
International plc company ("Par").
Under this agreement, Arecor will use its proprietary
formulation technology platform Arestat(TM) to develop a
differentiated, stable, single dose, Ready-to-Use ("RTU")
formulation of one of Par's products for intravenous
administration. The new product formulation supports safe
medication practices and operational efficiency by eliminating the
need for reconstitution. Par 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 (with associated potential milestone and royalty payments) to
further develop and commercialise the product.
Arestat(TM) is an innovative and proprietary formulation
technology platform which enhances the properties of therapeutic
proteins, peptides and vaccines. Arecor applies the Arestat(TM)
technology to deliver superior reformulations of existing products
as well as improving properties of new products in development.
Sarah Howell, Chief Executive Officer of Arecor, said: " We are
delighted to be collaborating with Par on an additional programme
which further strengthens our track record in developing RTU
medicines. This growing partnership supports both companies'
product development strategies to bring enhanced products to market
that simplify care and improve patient outcomes. We believe that
our Arestat(TM) technology has the potential to deliver a new
formulation that can support safe medication practices and improve
healthcare efficiency to benefit patients. We look forward to
developing this relationship with Par which augments our
partnership portfolio of major pharmaceutical companies and
demonstrates how our formulation expertise can provide novel
solutions for our partners."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 (MAR)
-ENDS-
For more information, please contact:
Arecor Therapeutics plc www.arecor.com
Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060
Officer 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 biopharmaceutical company
transforming patient care by bringing innovative medicines to
market. Through the enhancement of existing medicines using our
Arestat(TM) technology, we are developing a broad portfolio of
therapies as part of our proprietary pipeline and through
partnerships with leading pharmaceutical and biotech companies. Our
treatments for people living with chronic disease are designed to
simplify patient care and improve medication adherence.
For further details please see our website, www.arecor.com
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