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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% | 136.50 | 133.00 | 140.00 | 136.50 | 136.50 | 136.50 | 19,481 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Coml Physical, Biologcl Resh | 3.54M | -9.26M | -0.3024 | -4.51 | 41.8M |
TIDMAREC
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(TM), 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 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 Tel: +44 (0) 20 7886 2500 and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) Consilium Strategic Communications Chris Gardner, David Daley, Angela Tel: +44 (0) 20 3709 5700 Gray 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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December 21, 2021 02:00 ET (07:00 GMT)
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