REG - Arecor Therapeutics - Arecor Signs Exclusive Licensing Agreement

Arecor TherapeuticsAnnouncement

30/12/2024 07:00

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RNS Number : 5034R  Arecor Therapeutics PLC  30 December 2024

Arecor Therapeutics plc

("Arecor" or the "Group")

 

ARECOR SIGNS EXCLUSIVE LICENSING AGREEMENT FOR READY-TO-DILUTE FORMULATION OF
SPECIALITY HOSPITAL PRODUCT AT351

 

-      Arecor receives an upfront milestone payment and is eligible for
development, regulatory and commercial milestones, and royalties on global
sales

-      Licensee gains exclusive rights to further develop and
commercialise AT351

-      AT351 has potential to be the first ready-to-dilute liquid
formulation of important and widely used critical care therapy

 

Cambridge, UK, 30 December 2024: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier lives,
is pleased to announce an exclusive licensing  agreement for AT351, a
ready-to-dilute (RTD) liquid drug product, with a wholly owned subsidiary of
one of the world's largest independent chemicals marketing companies, which is
fully dedicated to the pharmaceutical business and focuses on the development
and commercialisation of speciality drugs.

 

This follows a successful formulation study collaboration between the two
companies, under Arecor's technology partnering model, in which Arecor used
its proprietary formulation technology platform, Arestat™, to develop a
differentiated, RTD liquid formulation of AT351.

 

Under the terms of the agreement, Arecor receives an undisclosed upfront
milestone payment and is eligible for development, regulatory and commercial
milestone payments, and royalties on global sales. The licensee is granted an
exclusive, worldwide license to AT351 and its associated intellectual property
and will be responsible for all development, regulatory and commercialisation
activities.  The licensee will seek approval for the product under the U.S.
Food and Drug Administration's 505(b)(2) regulatory pathway, with filing
expected within 3 years.

 

Sarah Howell, Chief Executive Officer of Arecor, said: "We are delighted to
announce this key advancement for AT351. The progress of this collaboration
illustrates the value that our proprietary technology platform, Arestat™,
can bring to our partners. It further validates our strengths in the
development of differentiated medicines to improve patient outcomes and
underscores our confidence in Arecor's technology partnership and licensing
strategy to deliver long term value for shareholders."

 

AT351, an undisclosed product, is an important and widely used critical care
therapy that has the potential to offer significant advantages to the current
product by replacing a lengthy, resource intensive storage and preparation
procedure, and by simplifying point-of-use care with associated cost savings
throughout the supply chain. It has the potential to be the first RTD liquid
formulation of the product available to 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
 Dr Sarah Howell, Chief Executive Officer                     Tel: +44 (0) 1223 426060

                                                              Email: info@arecor.com (mailto:info@arecor.com)
 David Ellam, Interim Chief Financial Officer                 Tel: +44 (0) 1223 426060

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

 Panmure Liberum Limited (NOMAD and Joint Broker)
 Emma Earl, Freddy Crossley, Mark Rogers (Corporate Finance)  Tel: +44 (0) 20 7886 2500

 Rupert Dearden (Corporate Broking)

 WG Partners LLP (Joint Broker)
 Nigel Barnes, Satheesh Nadarajah                             Tel: +44 (0)203 705 9321

 David Wilson, Claes Spang

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

                                                              Email: arecor@icrhealthcare.com (mailto:arecor@icrhealthcare.com)

 

Notes to Editors

 

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company
transforming patient care by bringing innovative medicines to market through
the enhancement of existing therapeutic products. By applying our innovative
proprietary 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
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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