Arecor Therapeutics PLC Agreement with global medical products company (4855V)
04 December 2023 - 6:00PM
UK Regulatory
TIDMAREC
RNS Number : 4855V
Arecor Therapeutics PLC
04 December 2023
Arecor Therapeutics plc
("Arecor" or the "Group")
ARECOR SIGNS CO-DEVELOPMENT AND EXCLUSIVE LICENCE OPTION
AGREEMENT WITH LEADING GLOBAL MEDICAL PRODUCTS COMPANY FOR IN-HOUSE
SPECIALITY HOSPITAL PRODUCT
Arecor-developed, Arestat(TM)-enabled product is potentially
first ready-to-dilute liquid formulation of a high-value oncology
therapy
Cambridge, UK, 4 December 2023: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives, today announces a co-development and
exclusive licence option agreement with a leading global medical
products company for a high-value, ready-to-dilute ("RTD") oncology
product from Arecor's in-house Specialty Hospital pipeline.
Under the terms of the agreement, Arecor and its partner will
conduct further co-development and regulatory work with Arecor
eligible to receive potential developmental milestones. The
agreement includes an option for the partner to be granted an
exclusive, worldwide license to further develop and commercialise
the product, with Arecor eligible to receive milestones and royalty
payments.
Arecor has developed a proprietary RTD form of a lyophilized
powder product using its formulation technology platform,
Arestat(TM). This novel, liquid, RTD formulation of an existing
'blockbuster' oncology therapy has the potential to offer
significant advantages to the current product by replacing a
lengthy, resource intensive reconstitution process, promoting safe
medical practices and simplifying care with reduced patient chair
time.
Sarah Howell, Chief Executive Officer at Arecor, said: "This
collaboration highlights the potential of our proprietary pipeline
and Arestat(TM) technology to enable the development of high-value,
specialty hospital products which bring improved treatment options
to patients and caregivers and are attractive to pharmaceutical
partners. This product, from our in-house speciality hospital
pipeline, is the second revenue-generating transaction of this type
and demonstrates not only our expertise in selecting and delivering
RTA and RTD improved medicines but also our commercial capabilities
to convert these into value-driving collaborations at key inflexion
points.
"We are confident that we have selected the right partner who
has outstanding commercial capabilities and a shared vision to
bring this important cancer medicine to patients. With the current
therapy continuing to grow in both volume and value terms, this
enhanced formulation has the potential to further benefit
pharmacists and physicians through the simplified reconstitution
process and, most importantly, improve care for patients."
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
and Broker)
Freddy Crossley, Emma Earl (Corporate Tel: +44 (0) 20 7886 2500
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
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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