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7 Jun 2021 07:00
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
EXCLUSIVE FORMULATION STUDY COLLABORATION WITH PAR STERILE PRODUCTS TO DEVELOPA STABLE READY TO USE PRODUCT
Cambridge, UK, 7th June 2021: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical company advancing today's therapies to enable healthier lives, today announces that it has signed a formulation study agreement with Par Sterile Products, LLC, an Endo International plc company ("Par").
Under this agreement, Arecor will use its proprietary formulation technology platform Arestat™ to develop a differentiated, stable, single dose, Ready-to-Use ("RTU") formulation of one of Par's products for intravenous administration. The new product formulation supports safe medication practices and operational efficiency by eliminating the need for reconstitution. Par 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 (with associated potential milestone and royalty payments) to further develop and commercialise the product.
Arestat™ is an innovative and proprietary formulation technology platform which enhances the properties of therapeutic proteins, peptides and vaccines. Arecor applies the Arestat™ technology to deliver superior reformulations of existing products as well as improving properties of new products in development.
Sarah Howell, Chief Executive Officer of Arecor, said: "We are delighted to be collaborating with Par on an additional programme which further strengthens our track record in developing RTU medicines. This growing partnership supports both companies' product development strategies to bring enhanced products to market that simplify care and improve patient outcomes. We believe that our Arestat™ technology has the potential to deliver a new formulation that can support safe medication practices and improve healthcare efficiency to benefit patients. We look forward to developing this relationship with Par which augments our partnership portfolio of major pharmaceutical companies and demonstrates how our formulation expertise can provide novel solutions for our partners."
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 Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com |
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Susan Lowther, Chief Financial Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com |
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Mo Noonan, Communications | Tel: +44 (0) 7876 444977 Email: mo.noonan@arecor.com |
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Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) | Tel: +44 (0) 20 7886 2500
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Consilium Strategic Communications |
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Chris Gardner, David Daley, Angela Gray | Tel: +44 (0) 20 3709 5700 Email: arecor@consilium-comms.com |
Notes to Editors
About Arecor
Arecor Therapeutics plc is a biopharmaceutical company transforming patient care by bringing innovative medicines to market. Through the enhancement of existing medicines using our Arestat™ technology, we are developing a broad portfolio of therapies as part of our proprietary pipeline and through partnerships with leading pharmaceutical and biotech companies. Our treatments for people living with chronic disease are designed to simplify patient care and improve medication adherence.
For further details please see our website, www.arecor.com
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