ARECOR ANNOUNCES EXPANSION OF EXISTING SPECIALTY HOSPITAL FORMULATION COLLABORATION
Cambridge, UK, 8 January 2024: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today’s therapies to enable healthier lives, today announces the expansion of its ongoing, exclusive formulation study collaboration with the pharmaceutical division of one of the world’s largest chemicals marketing and pharmaceuticals companies, which focuses on the development and commercialisation of speciality drugs.
The collaboration, in which Arecor is using its proprietary formulation technology platform, Arestat™, to develop a differentiated, ready-to-use liquid formulation of its partner’s product, AT351, has progressed significantly since it began in November 2022. Arecor will now undertake additional in-house activities to accelerate the development programme, enabling rapid progress towards its partner’s Pre-Investigational New Drug (Pre-IND) meeting with the US FDA.
The partner will provide additional funds for Arecor’s expanded development work and continues to have an option to acquire the rights to the new proprietary formulation and associated Intellectual Property under Arecor’s technology licensing model to further develop and commercialise the product.
Sarah Howell, Chief Executive Officer of Arecor, said: "The rapid progress of this collaboration and expansion of the development project illustrate the value that our proprietary technology platform, Arestat™, and our experience in the specialty hospital field, can bring to our partners and the development of differentiated medicines to improve patient outcomes.”
This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 (“UK MAR”).
Chris Gardner, David Daley, Lindsey Neville Tel: +44 (0) 20 3709 5700