Arecor Therapeutics has signed an exclusive licensing agreement for AT351, its ready-to-dilute (RTD) liquid drug product, with “a wholly owned subsidiary of one of the world’s largest independent chemicals marketing companies”.
The agreement follows a successful formulation study collaboration between the two companies, under Arecor’s technology partnering model, in which Arecor used its proprietary formulation technology platform, Arestat, to develop a differentiated, RTD liquid formulation of AT351.
Sarah Howell CEO of Arecor
Under the terms of the agreement, Arecor receives an undisclosed upfront milestone payment and is eligible for development, regulatory and commercial milestone payments, and royalties on global sales.
The licensee is granted an exclusive, worldwide license to AT351 and its associated intellectual property and will be responsible for all development, regulatory and commercialisation activities. The licensee will seek approval for the product under the US Food and Drug Administration’s 505(b)(2) regulatory pathway, with filing expected within three years.
Sarah Howell, Arecor’s CEO, said: “We are delighted to announce this key advancement for AT351. The progress of this collaboration illustrates the value that our proprietary technology platform, Arestat, can bring to our partners.
“It further validates our strengths in the development of differentiated medicines to improve patient outcomes and underscores our confidence in Arecor’s technology partnership and licensing strategy to deliver long-term value for shareholders.”