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™-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™. 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™ 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").
Chris Gardner, David Daley, Lindsey Neville Tel: +44 (0) 20 3709 5700