Cambridge, UK, 30 December 2024: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today’s therapies to enable healthier lives, is pleased to announce an exclusive licensing agreement for AT351, a ready-to-dilute (RTD) liquid drug product, with a wholly owned subsidiary of one of the world’s largest independent chemicals marketing companies, which is fully dedicated to the pharmaceutical business and focuses on the development and commercialisation of speciality drugs.
-Arecor receives an upfront milestone payment and is eligible for development, regulatory and commercial milestones, and royalties on global sales
-Licensee gains exclusive rights to further develop and commercialise AT351
-AT351 has potential to be the first ready-to-dilute liquid formulation of important and widely used critical care therapy
This follows a successful formulation study collaboration between the two companies, under Arecor’s technology partnering model, in which Arecor used its proprietary formulation technology platform, Arestat™, to develop a differentiated, RTD liquid formulation of AT351.
Under the terms of the agreement, Arecor receives an undisclosed upfront milestone payment and is eligible for development, regulatory and commercial milestone payments, and royalties on global sales. The licensee is granted an exclusive, worldwide license to AT351 and its associated intellectual property and will be responsible for all development, regulatory and commercialisation activities. The licensee will seek approval for the product under the U.S. Food and Drug Administration’s 505(b)(2) regulatory pathway, with filing expected within 3 years.
Sarah Howell, Chief Executive Officer of Arecor, said: “We are delighted to announce this key advancement for AT351. The progress of this collaboration illustrates the value that our proprietary technology platform, Arestat™, can bring to our partners. It further validates our strengths in the development of differentiated medicines to improve patient outcomes and underscores our confidence in Arecor’s technology partnership and licensing strategy to deliver long term value for shareholders.”
AT351, an undisclosed product, is an important and widely used critical care therapy that has the potential to offer significant advantages to the current product by replacing a lengthy, resource intensive storage and preparation procedure, and by simplifying point-of-use care with associated cost savings throughout the supply chain. It has the potential to be the first RTD liquid formulation of the product available to patients.
This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 (“UK MAR”).
