Arecor Therapeutics PLC Arecor Continues Collaboration with Lilly (9702U)
29 November 2023 - 6:00PM
UK Regulatory
TIDMAREC
RNS Number : 9702U
Arecor Therapeutics PLC
29 November 2023
Arecor Therapeutics plc
("Arecor" or the "Group")
ARECOR CONTINUES COLLABORATION WITH LILLY
Development of an enhanced formulation of Lilly proprietary
product using Arecor's formulation technology platform
Arestat(TM)
Cambridge, UK, 29 November 2023: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives, today announces that it has signed a
further collaboration agreement with Eli Lilly and Company
("Lilly").
Under the terms of this agreement, Arecor will use its
proprietary formulation technology platform, Arestat(TM), to
develop a novel liquid formulation of one of Lilly's products with
enhanced properties. Lilly will fund the development work and has
the option to acquire the rights to the new formulation and newly
created intellectual property under a technology licensing model to
further develop and commercialise the product.
Sarah Howell, Chief Executive Officer of Arecor, said: "Building
on what has already proven to be a successful partnership, we are
delighted that Lilly has turned to us once again for our innovative
technology and expertise. With 11 technology partnerships from new
and existing partners signed since our IPO, our partnered portfolio
continues to expand, further demonstrating the strength of our
know-how and expertise, and recognising Arecor as a partner of
choice for enhanced safe, efficacious and more convenient
treatments that improve patient outcomes. These partnerships also
provide near term revenue plus upside potential from future
licensing opportunities."
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 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)
ICR Consilium Tel: +44 (0) 20 3709 5700
Chris Gardner, David Daley, Lindsey Email: arecor@consilium-comms.com
Neville
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 .
About Arestat(TM)
Arestat(TM) is Arecor's innovative and proprietary formulation
technology platform developed from novel insights into molecular
interactions and is broadly applicable to a wide range of
therapeutic products, notably
antibodies, peptides, biologics and vaccines. Arecor applies the
Arestat(TM) technology to deliver superior reformulations of
existing products and new products in development, with enhanced
properties that would otherwise be unachievable. Benefits of these
novel formulations can range from improved shelf-life, previously
unattainable concentrations, greater patient convenience and
superior therapeutic profiles.
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END
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