Arecor Therapeutics PLC Product with Arestat technology launched in Europe (7529T)
17 November 2023 - 6:00PM
UK Regulatory
TIDMAREC
RNS Number : 7529T
Arecor Therapeutics PLC
17 November 2023
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(TM) 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(TM) technology, is a significant
milestone for Arecor and further demonstrates the strength of our
Arestat(TM) 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 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)
ICR Consilium
Chris Gardner, David Daley, Lindsey Tel: +44 (0) 20 3709 5700
Neville 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 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
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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