First Product Incorporating Arecor’s Arestat Technology, At220, Launched in Europe
FIRST PRODUCT INCORPORATING ARECOR’S ARESTAT TECHNOLOGY, AT220, LAUNCHED IN EUROPE
- FIRST PRODUCT INCORPORATING ARECOR’S ARESTAT TECHNOLOGY, AT220, LAUNCHED IN EUROPE
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.