Agreement with global medical products company

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™-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").

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For more information, please contact:

Arecor Therapeutics plc	www.arecor.com
Dr Sarah Howell, Chief Executive Officer	Tel: [phone] Email: [e-mail]
Susan Lowther, Chief Financial Officer	Tel: [phone] Email: [e-mail]
Mo Noonan, Communications	Tel: [phone] Email: [e-mail]
Panmure Gordon (UK) Limited (NOMAD and Broker)
Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking)	Tel: [phone]
ICR Consilium
Chris Gardner, David Daley, Lindsey Neville	Tel: [phone] Email: [e-mail]

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™, 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™ platform is supported by an extensive patent portfolio. For further details please see our website, www.arecor.com

 

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