Arecor Therapeutics PLC (AIM:AREC) has announced its fourth major collaboration in six months after signing an exclusive formulation agreement with an unnamed ‘leading global medical products company’.
Under the terms of the tie-up, Arecor will use its formulation technology platform, Arestat, to develop a ready-to-administer stable liquid drug product for intravenous administration in two concentrations.
The new liquid formulation of the product will eliminate the need for reconstitution, making it more efficient than the traditional approach.
The partner will fund the early work and has the option to acquire the rights to the new proprietary formulation and the intellectual property under a technology licensing model to further develop and commercialise the product.
Arecor chief executive Sarah Howell said: "We are very pleased to announce this new partnership today, our fourth in the past six months, showcasing our commercial strategy to drive growth through our portfolio of collaborations across leading pharmaceutical, medical products and biotech companies.
“This collaboration further demonstrates the strength of our proprietary technology platform, Arestat in developing ready-to-administer medicines, which are becoming increasingly important to enable fast, safe and effective treatment of patients."