REG - Arecor Therapeutics - Product with Arestat technology launched in Europe

Arecor TherapeuticsAnnouncement

17/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231117:nRSQ7529Ta&default-theme=true

RNS Number : 7529T  Arecor Therapeutics PLC  17 November 2023

 

Arecor Therapeutics plc

("Arecor" or the "Group")

 

FIRST PRODUCT INCORPORATING ARECOR'S ARESTAT TECHNOLOGY, AT220, LAUNCHED IN
EUROPE

First commercial sale triggers milestone payment and future royalties to
Arecor

 

Cambridge, UK, 17 November 2023: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical company advancing today's therapies to enable healthier
lives, announces the triggering of a milestone payment from its global
pharmaceutical partner, following the first commercial sale of a product,
AT220, incorporating its proprietary Arestat™ technology platform.

 

Sarah Howell, Chief Executive Officer of Arecor, said: "The commercialisation
of this product in Europe, the first to be launched incorporating our
Arestat™ technology, is a significant milestone for Arecor and further
demonstrates the strength of our Arestat™ platform and the value it can
bring to our partners and ultimately patients. This also triggers a milestone
payment and will lead to royalty payments, further underscoring our confidence
in our strategy and the potential of our in-house portfolio and pipeline of
partnered products to deliver long term value to shareholders."

 

Under a license agreement entered into in 2017, Arecor developed a novel and
differentiated formulation of its global pharmaceutical company partner's
product. Arecor has received earlier payments linked to specific development
and commercial milestones, and moving forward, will receive revenue streams
under the royalty bearing agreement from future sales.

 

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 (mailto:sarah.howell@arecor.com)

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

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

 ICR Consilium
 Chris Gardner, David Daley, Lindsey Neville      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 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)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PRLEAPFKFEPDFFA