REG - Arecor Therapeutics - Ligand Pharmaceuticals Milestone Payment

Arecor TherapeuticsAnnouncement

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RNS Number : 1455Y  Arecor Therapeutics PLC  26 March 2026

Arecor Therapeutics plc

("Arecor" or the "Company")

 

$0.5 Million Commercial Milestone Payment From Ligand Pharmaceuticals

Cambridge, UK, 26 March 2026: Arecor Therapeutics plc (AIM: AREC), a clinical
stage biotech company developing superior therapeutics that can reduce
treatment burden and improve outcomes for people living with diabetes, obesity
and other cardiometabolic diseases, confirms that it has received its first
milestone payment of $0.5 million from Ligand Pharmaceuticals Incorporated
('Ligand'), following the previously announced royalty financing agreement
(https://otp.tools.investis.com/clients/uk/arecor_therapeutics_plc/rns/regulatory-story.aspx?cid=2671&newsid=1990334)
, the ('Agreement').

In September 2025, Arecor agreed to the sale of the global royalty rights
(https://otp.tools.investis.com/clients/uk/arecor_therapeutics_plc/rns/regulatory-story.aspx?cid=2671&newsid=1990334)
related to AT220, an Arestat®-enhanced biosimilar product marketed by a
global pharmaceutical company, and all potential milestone and technology
access fees related to AT292 (licensed to Inhibrx, now Sanofi's Efdoralprin
alfa) to Ligand. Arecor received an initial $7.0 million upfront cash payment,
with an additional $4.0 million payable upon the achievement of certain
commercial milestones related to AT220 and AT292.

Under the terms of the Agreement, the first commercial milestone has been
achieved, resulting in a $0.5m payment to Arecor.  Arecor expects to receive
a further $0.5 million in the second half of 2026. The remaining $3 million is
contingent upon achievement of future commercial milestones related to AT220
and AT292, which remain on track.

Sarah Howell, Chief Executive Officer of Arecor, said:

"The agreement with Ligand continues to generate non-dilutive funds which are
being used to accelerate our lead programme, AT278. This is the only
ultra-concentrated and ultra-rapid-acting insulin in development, in
combination with Sequel Med Tech's innovative twiist(TM) Automated Insulin
Delivery (AID) system. Arecor and Sequel Med Tech are making great progress
across all of the trial-enabling development activities for the Phase 2
AT278-AID clinical trial which is anticipated to commence in 2H 2026."

-ENDS-

For more information, please contact:

 Arecor Therapeutics plc

Dr Sarah Howell, Chief Executive Officer

David Ellam, Chief Financial Officer            +44 (0) 1223 426060

                                                  info@arecor.com
 Singer Capital Markets Advisory LLP

(NOMAD and Broker)

 Phil Davies, James Fischer                       +44 (0) 20 7496 3000
 Vigo Consulting (Financial Communications)       +44 (0) 20 7390 0230
 Melanie Toyne-Sewell, Rozi Morris

                                                  arecor@vigoconsulting.com
 Vida Strategic Partners (US Investor Relations)  +1 (415) 675-7401

 Stephanie Diaz                                   sdiaz@vidasp.com

Notes to Editors

About Arecor

Arecor Therapeutics plc (AIM: AREC) is a clinical-stage biotech company
developing superior therapeutics that can reduce treatment burden and improve
outcomes for people living with diabetes, obesity and other cardiometabolic
diseases.

Lead product, AT278, is the only ultra-concentrated (500U/mL)
ultra-rapid-acting insulin in development. Arecor has signed an initial
strategic partnership with Sequel Med Tech, a leading automated insulin
delivery (AID) system company to co-develop AT278 in combination with Sequel's
twiist™ AID system. Clinically de-risked, AT278 is designed to transform AID
systems, addressing a multi-billion dollar diabetes market. Arecor is also
developing a novel oral delivery platform for peptides with GLP-1 receptor
agonists its first validation target.

The Company is listed on AIM (AIM: AREC) and is based in Cambridge, UK. For
further details please see www.arecor.com (http://www.arecor.com/) .

Arecor® and Arestat® are registered trademarks of Arecor Limited.

 

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