Arecor Therapeutics PLC (AIM:AREC) is teaming up with TRx Biosciences to deliver an oral formulation of a GLP-1 drug similar to the blockbusters used in weight management and diabetes.
In doing so, the pair hope to tap into a market that could be worth $100 billion annually by 2030.
Currently, the main challenge using top-selling products such as Wegovy or Ozempic is they are administered via injection.
While relatively painless, the process is inconvenient. To date, Novo Nordisk (NYSE:NVO)'s Rybelsus is the only GLP-1 receptor agonist available in pill form, exhibiting an oral bioavailability of less than 1%.
Arecor and TRx and Arecor will utilise the former's LipiCore oral delivery technology and the latter's Arestat formulation platform to come up with a more effective pill.
"As the global market for GLP-1 receptor agonists grows and their use increases, significant challenges remain in their oral delivery," explained Arecor CEO, Sarah Howell.
"With current treatment options mostly limited to injectable therapies, many patients in need are unable to benefit from these highly effective treatments. Arecor has an excellent track record of developing difficult-to-achieve product profiles by deploying our Arestat technology to develop unique formulations specifically designed to overcome patient-focused challenges.
"Alongside TRx Biosciences and its expertise in targeted oral drug delivery, we have an opportunity to develop an enhanced oral GLP-1 receptor agonist product.
"In addition, if the initial research collaboration is successful, we would hope to leverage the technology to deliver other high-value peptides via patient-preferred oral delivery formats. I look forward to providing further updates in due course."
The partnership will not only focus on enhancing the oral delivery of semaglutide but also holds the potential to expand into developing multiple oral peptide products and combination therapies in the future.