REG - Arecor Therapeutics - Agreement with global medical products company

Arecor TherapeuticsAnnouncement

04/12/2023 07:00

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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™-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").

 

-ENDS-

For more information, please contact:

 Arecor Therapeutics plc                         www.arecor.com (http://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 and Broker)
 Freddy Crossley, Emma Earl (Corporate Finance)  Tel: +44 (0) 20 7886 2500

 Rupert Dearden (Corporate Broking)

 ICR Consilium
 Chris Gardner, David Daley, Lindsey Neville     Tel: +44 (0) 20 3709 5700

                                                 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™, 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 (http://www.arecor.com)

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