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 theArestat™ 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)
Article published on: 07.06.21