Arecor Therapeutics PLC (AIM:AREC) has partnered with a major global pharmaceutical company to develop a new formulation of one of the partner’s proprietary products.
Under the agreement announced on Wednesday, the AIM-listed firm will apply its Arestat technology platform to enhance the properties of the unnamed group's product.
The deal takes the form of a formulation study agreement, with the potential for future licensing opportunities depending on the outcome of the development work.
CEO Sarah Howell said: "Arecor continues to partner with the world's leading pharmaceutical companies, which is testament to our leadership position in the field of drug delivery and formulation innovation and further validates the potential of our proprietary technology platform, Arestat to enable enhanced formulations of partners' proprietary products which would otherwise be unachievable."