Arecor Therapeutics PLC (AIM:AREC) said it has inked an agreement with an unnamed, top-10 pharma company to develop an enhanced antibody formulation for one of the latter's drug candidates.
Arecor will employ its Arestat formulation technology platform to create a new, stable liquid formulation with a high antibody concentration.
Funding for this development will come from the collaborating company, providing additional revenue for the AIM-listed biopharma group. This deal further expands Arecor's existing partnership portfolio.
Chief executive Sarah Howell told investors: "This collaborator is a leader in the development of novel medicines.
"Arecor has a proven track record of leveraging its Arestat technology to help deliver these complex therapeutics.
"We work closely with our partners to develop more effective treatments where superior properties bring even greater benefit to patients and we look forward to working with the world-renowned R&D team."