Arecor continues collaboration with Lilly
Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today’s therapies to enable healthier lives, today announces that it has signed a further collaboration agreement with Eli Lilly and Company (“Lilly”).
Under the terms of this agreement, Arecor will use its proprietary formulation technology platform, Arestat™, to develop a novel liquid formulation of one of Lilly’s products with enhanced properties. Lilly will fund the development work and has the option to acquire the rights to the new formulation and newly created intellectual property under a technology licensing model to further develop and commercialise the product.
Sarah Howell, Chief Executive Officer of Arecor, said: “Building on what has already proven to be a successful partnership, we are delighted that Lilly has turned to us once again for our innovative technology and expertise. With 11 technology partnerships from new and existing partners signed since our IPO, our partnered portfolio continues to expand, further demonstrating the strength of our know-how and expertise, and recognising Arecor as a partner of choice for enhanced safe, efficacious and more convenient treatments that improve patient outcomes. These partnerships also provide near term revenue plus upside potential from future licensing opportunities.”
This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 (“UK MAR”).
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