Arecor Therapeutics PLC (AIM:AREC) has announced the activation of a milestone payment from Inhibrx Inc, marking a key step in their ongoing collaboration.
This unquantified sum is tied to the development of INBRX-101, an enhanced formulation created by the Cambridge-based innovator using its Arestat technology.
Arecor initially received an upfront payment from Inhibrx, with the agreement entitling it to additional sums upon reaching specific development, regulatory, and commercial milestones, as well as annual technology access fees following commercialisation.
"This collaboration demonstrates the unique capability of the Arestat technology to deliver superior and novel formulations of complex products, in this case for treatment of an orphan disease," said Sarah Howell, Arecor's chief executive.
"It also highlights the strength of Arecor's licensing model in providing the opportunity to receive near-term revenues from milestone payments and future significant revenue upon commercialisation, bringing long-term value to the company and our shareholders."
INBRX-101 is a recombinant human AAT-Fc fusion protein optimised for treating patients with emphysema due to alpha-1 antitrypsin deficiency (AATD), a rare genetic disease that can lead to serious lung and liver conditions.
It has the potential to significantly reduce the number of annual infusions required, halt lung decline from Alpha-1 Disease, and significantly enhance patient quality of life compared to existing treatments.
In March 2022, the US Food and Drug Administration (FDA) granted orphan-drug designation for INBRX-101 for treating AATD, and in April 2023, Inhibrx initiated a registration-enabling trial for the treatment, with initial results expected in late 2024.
"Inhibrx is an excellent partner, and we are delighted with the progress made in INBRX-101's development programme," said Howell.
"This registration-enabling study may be sufficient to file for regulatory approval under the FDA's Accelerated Approval Program and is an important step in making this much needed medicine available to patients with AATD."