Arecor Therapeutics PLC (AIM:AREC) has inked a deal with one of the world’s largest chemicals marketing and pharmaceutical companies to develop a ready-to-use liquid drug for intravenous administration.
The pair will do this using Arecor’s Arestat technology to create a new liquid formulation of the unnamed medication.
The partner will fund the work and has the option to acquire rights to the new formulation to further commercialise it.
Arecor’s chief executive, Sarah Howell, said: "Our expertise in formulating complex medicines, when combined with our partner's global network and specific local knowledge of providing access to the major markets worldwide, will be key to advancing these fast, safe and effective treatments for patients."