Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing therapies to enable healthier lives, today announces that it has signed a formulation agreement with Intas Pharmaceuticals Ltd.
Arecor signs exclusive formulation collaboration with Intas Pharmaceuticals
Under this agreement, Arecor will use its proprietary formulation technology platform Arestat™ to develop a differentiated product for Intas. The new product formulation supports improved usability for the patient compared to current marketed products and in particular facilitates home use outside of a healthcare environment. Intas will fund the development work and has the option to acquire the global 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. Accord Healthcare, an affiliate of Intas, will, upon successful completion, promote this product across all major markets.
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 working with Intas. Our Arestat™ technology has the potential to deliver to Intas a new formulation to support development of a stable liquid product that meets patient needs. This collaboration recognises our capabilities in product formulation, overcoming the complex challenges associated with developing these products. Intas who are a new development partner for Arecor, further strengthens our portfolio with major pharmaceutical companies and demonstrates how our formulation expertise can bring enhanced products to market for partners that simplify care and improve medicine management.”
“The collaboration with Arecor demonstrates our emphasis on value addition towards strengthening our portfolio to provide improved therapeutic options for patients and healthcare in general”, said Mr. Binish Chudgar, Vice Chairman of Intas Pharmaceuticals. “We are committed to improving access to innovation-driven value-added medicines to make a real difference in patient's life”.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
Advancing today's therapies to enable healthier lives.