Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today’s therapies to enable healthier lives, today announces that it has signed an exclusive formulation study collaboration.
The partner is a global technology leader, serving customers across research, clinical and applied markets. Under the terms of the agreement, Arecor will use its proprietary formulation technology platform, Arestat™, to develop an improved, stable, liquid formulation for use within their technology. 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.
Sarah Howell, Chief Executive Officer of Arecor, said: "We continue to expand the multiple potential applications of our innovative Arestat™ platform. Supporting our partner’s molecular testing platform augments our portfolio, showcasing the breadth of our technology platform’s potential. Our partner’s products are used for applications in life sciences, oncology, reproductive health, agriculture and other emerging segments, expanding our reach into new markets. We look forward to working with them and advancing our Arestat™ platform in the diagnostic space to support personalised medicine for patients.”
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).