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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Arecor Therapeutics Plc | LSE:AREC | London | Ordinary Share | GB00BMWLM973 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 146.50 | 145.00 | 148.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Coml Physical, Biologcl Resh | 3.54M | -9.26M | -0.3024 | -4.84 | 44.87M |
TIDMAREC
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(TM)-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(TM). 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(TM) 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 Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060 Officer 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 Tel: +44 (0) 20 7886 2500 Finance) Rupert Dearden (Corporate Broking) ICR Consilium Chris Gardner, David Daley, Lindsey Tel: +44 (0) 20 3709 5700 Neville 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(TM), 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(TM) platform is supported by an extensive patent portfolio. For further details please see our website, www.arecor.com
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(END) Dow Jones Newswires
December 04, 2023 02:00 ET (07:00 GMT)
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