Arecor Ltd (“Arecor” or “the Company”), the biopharmaceutical company advancing today’s therapies to enable healthier lives, today announces that it has achieved an important second, contractual milestone with one of its pharmaceutical partners. The first milestone was triggered in October 2017 following the signature of a license agreement between the parties.
In accordance with the license agreement, the partner has rights to further develop, manufacture and commercialise a novel, superior formulation of a biosimilar product, which was developed by Arecor using its proprietary Arestat™ platform. The novel, stable liquid formulation has met agreed intellectual property and improved thermostability specifications for both intravenous (IV) and subcutaneous (SC) presentations. Under the terms of the exclusive global, royalty bearing license, a second milestone payment has been duly triggered. It is expected that the partner will now initiate final pivotal studies in order to further progress the product towards commercialisation, which could result in future milestone and royalty payments.
Article sourced from: http://arecor.com/app/uploads/2020/02/Arecor-Achieves-Second-License-Milestone-Payment-25Feb20.pdf
Published on: 25.02.2020