Arecor Therapeutics plc, the biopharmaceutical group advancing today’s therapies to enable healthier lives, today announces that it has signed an exclusive formulation study collaboration with the pharmaceutical division of one of the world’s largest chemicals marketing and pharmaceuticals companies, which focuses on the development and commercialisation of speciality drugs.
Under the terms of the agreement, Arecor will use its proprietary formulation technology platform, Arestat, to develop a differentiated, stable, liquid drug product, for intravenous administration, that is Ready-to-Use (“RTU”). The new liquid formulation of the product supports safe medication practices and operational efficiency by eliminating the need for reconstitution. The partner will fund the development work and has the option to acquire the rights to the new proprietary formulation and associated Intellectual Property under a technology licensing model to further develop and commercialise the product.
This collaboration adds to Arecor’s growing portfolio of pre-license technology partnerships which, subject to licensing, typically include both potential milestone and royalty payments and could offer significant future recurring revenue upside potential for the Group.
Sarah Howell, Chief Executive Officer of Arecor, said: “This collaboration further demonstrates the strength of our proprietary technology platform, Arestat™, and its potential in the development of Ready-to-Use medicines. This is a field in which Arecor is building a considerable portfolio of potential specialty hospital products, as well as bringing our technology and experience to further our partners’ products. Our expertise in formulating complex medicines, when combined with our partner’s global network and specific local knowledge of providing access to the major markets worldwide, will be key to advancing these fast, safe and effective treatments for patients.”