Arecor Therapeutics PLC (AIM:AREC) has agreed an exclusive study collaboration with an unnamed partner in the “clinical and applied markets”.
It will use its formulation platform Arestat to develop an “improved, stable, liquid formulation” for use within the partner’s technology, the company said.
The partner will fund the work and has the option to acquire the new formulation, it added.
Arecor chief executive Sarah Howell said: "We continue to expand the multiple potential applications of our innovative Arestat platform.
“Supporting our partner's molecular testing platform augments our portfolio, showcasing the breadth of our technology platform's potential.
“Our partner's products are used for applications in life sciences, oncology, reproductive health, agriculture and other emerging segments, expanding our reach into new markets.
“We look forward to working with them and advancing our Arestat platform in the diagnostic space to support personalised medicine for patients."