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REG - Arecor Therapeutics - Arecor Provides Update on Agreement with Hikma

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RNS Number : 2732W  Arecor Therapeutics PLC  21 December 2021

Arecor Therapeutics plc

("Arecor" or the "Group")

 

ARECOR PROVIDES UPDATE ON EXCLUSIVE AGREEMENT WITH HIKMA TO DEVELOP AND
COMMERCIALISE READY-TO-USE MEDICINE USING ARESTAT(TM) TECHNOLOGY

 

Cambridge, UK, 21 December 2021. Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier lives,
is pleased to provide an update on the Group's ongoing exclusive agreement
with Hikma Pharmaceuticals to co-develop a new, ready-to-use (RTU) injectable
medicine.

 

Under the co-development agreement for AT282, announced in January 2020,
Arecor is responsible for optimising the novel formulation of the product
using the Group's proprietary drug formulation technology platform Arestat™,
and expects to transfer the final formulation to Hikma in 1H 2022. Under the
terms of the royalty-based agreement, a milestone payment to Arecor will be
triggered upon transfer. This follows the upfront payment to Arecor in January
2020 following signature of the license agreement between the parties.

 

Sarah Howell, Chief Executive Officer of Arecor, said: "We are pleased with
the progress being made with AT282, the first of two co-development programmes
with Hikma. Ready-to-use medicines such as AT282 are becoming increasingly
important in the hospital setting and we are proud that our Arestat(TM)
technology is supporting the development of a medicine that has the potential
to provide a safer, more convenient and immediate treatment option for
patients. We look forward to updating the market on our continued progress
with this programme."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014 (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 (mailto:sarah.howell@arecor.com)

 Susan Lowther, Chief Financial Officer           Tel: +44 (0) 1223 426060

                                                  Email: info@arecor.com (mailto:susan.lowther@arecor.com)

 Mo Noonan, Communications                        Tel: +44 (0) 7876 444977

                                                  Email: mo.noonan@arecor.com (mailto:mo.noonan@arecor.com)

 Panmure Gordon (UK) Limited (NOMAD and Broker)   Tel: +44 (0) 20 7886 2500

 Freddy Crossley, Emma Earl (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 Consilium Strategic Communications
 Chris Gardner, David Daley, Angela Gray          Tel: +44 (0) 20 3709 5700

                                                  Email: arecor@consilium-comms.com (mailto: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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