Arecor Therapeutics PLC on Tuesday said that it has signed an additional formulation study agreement with its top five global pharmaceutical partner, building on a collaboration formed in 2022.

Arecor is a Cambridgeshire, England-based biopharmaceutical company focused on bringing new medicines to market through the enhancement of existing therapeutic products.

Under the terms of the agreement, Arecor will use its proprietary formulation technology platform, Arestat, to develop improved, stable, high concentration, liquid formulations of its proprietary product.

The partner company, which Arecor did not name, will fund the initial development work and have the option to acquire the rights to the new proprietary formulations and associated intellectual property under a technology licencing model.

‘The expansion of this important collaboration with a leading pharmaceutical company clearly demonstrates Arecor’s expertise and the adaptability of our Arestat platform. This is the eighth new technology partnership with major pharmaceutical and biotech companies since Arecor’s [initial public offer] in June 2021, which shows the need for our technology among leading pharmaceutical companies developing innovative products,’ said Chief Executive Officer Sarah Howell.

Arecor Therapeutics shares were flat at 233.00 pence each on Tuesday in London. The stock floated at 226p a year and a half ago.

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