First Product Incorporating Arecor’s Arestat Technology, At220, Launched in Europe
17 11월 2023 - 4:00PM
Arecor Therapeutics plc(“Arecor”
or the “Group”)
FIRST PRODUCT INCORPORATING ARECOR’S
ARESTAT TECHNOLOGY, AT220, LAUNCHED IN EUROPE
First commercial sale triggers milestone payment and future
royalties to Arecor
Cambridge, UK, 17 November
2023: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical company advancing today’s therapies to enable
healthier lives, announces the triggering of a milestone payment
from its global pharmaceutical partner, following the first
commercial sale of a product, AT220, incorporating its proprietary
Arestat™ technology platform.
Sarah Howell, Chief Executive Officer of
Arecor, said: “The commercialisation of this product in
Europe, the first to be launched incorporating our Arestat™
technology, is a significant milestone for Arecor and further
demonstrates the strength of our Arestat™ platform and the value it
can bring to our partners and ultimately patients. This also
triggers a milestone payment and will lead to royalty payments,
further underscoring our confidence in our strategy and the
potential of our in-house portfolio and pipeline of partnered
products to deliver long term value to shareholders.”
Under a license agreement entered into in 2017,
Arecor developed a novel and differentiated formulation of its
global pharmaceutical company partner’s product. Arecor has
received earlier payments linked to specific development and
commercial milestones, and moving forward, will receive revenue
streams under the royalty bearing agreement from future sales.
This announcement contains inside information
for the purposes of the retained UK version of the EU Market Abuse
Regulation (EU) 596/2014 ("UK MAR").
-ENDS-
For more information, please contact:
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Arecor Therapeutics plc |
www.arecor.com |
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Dr Sarah Howell, Chief Executive Officer |
Tel: +44 (0) 1223 426060Email: info@arecor.com |
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Susan Lowther, Chief Financial Officer |
Tel: +44 (0) 1223 426060Email: info@arecor.com |
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Mo Noonan, Communications |
Tel: +44 (0) 7876 444977Email: mo.noonan@arecor.com |
|
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Panmure Gordon (UK) Limited (NOMAD and Broker)
Freddy Crossley, Emma Earl (Corporate Finance)Rupert Dearden
(Corporate Broking) |
Tel: +44 (0) 20 7886 2500 |
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ICR Consilium |
|
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Chris Gardner, David Daley, Lindsey Neville |
Tel: +44 (0) 20 3709 5700Email: arecor@consilium-comms.com |
Notes to Editors
About Arecor Arecor
Therapeutics plc is a globally focused biopharmaceutical company
transforming patient care by bringing innovative medicines to
market through the enhancement of existing therapeutic products. By
applying our innovative proprietary technology platform, Arestat™,
we are developing an internal portfolio of proprietary products in
diabetes and other indications, as well as working with leading
pharmaceutical and biotechnology companies to deliver therapeutic
products. The Arestat™ platform is supported by an extensive patent
portfolio.
For further details please see our website,
www.arecor.com
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