Arecor Therapeutics PLC Arecor Provides Update on Agreement with Hikma (2732W)
21 December 2021 - 06:00PM
UK Regulatory
TIDMAREC
RNS Number : 2732W
Arecor Therapeutics PLC
21 December 2021
Arecor Therapeutics plc
("Arecor" or the "Group")
ARECOR PROVIDES UPDATE ON EXCLUSIVE AGREEMENT WITH HIKMA TO
DEVELOP AND COMMERCIALISE READY-TO-USE MEDICINE USING ARESTAT(TM)
TECHNOLOGY
Cambridge, UK, 21 December 2021. Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives, is pleased to provide an update on the
Group's ongoing exclusive agreement with Hikma Pharmaceuticals to
co-develop a new, ready-to-use (RTU) injectable medicine.
Under the co-development agreement for AT282, announced in
January 2020, Arecor is responsible for optimising the novel
formulation of the product using the Group's proprietary drug
formulation technology platform Arestat(TM), and expects to
transfer the final formulation to Hikma in 1H 2022. Under the terms
of the royalty-based agreement, a milestone payment to Arecor will
be triggered upon transfer. This follows the upfront payment to
Arecor in January 2020 following signature of the license agreement
between the parties.
Sarah Howell, Chief Executive Officer of Arecor, said: "We are
pleased with the progress being made with AT282, the first of two
co-development programmes with Hikma. Ready-to-use medicines such
as AT282 are becoming increasingly important in the hospital
setting and we are proud that our Arestat(TM) technology is
supporting the development of a medicine that has the potential to
provide a safer, more convenient and immediate treatment option for
patients. We look forward to updating the market on our continued
progress with this programme."
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 globally focused biopharmaceutical
group 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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