Arecor Therapeutics PLC - Cambridgeshire, England-based biopharmaceutical company - Signs licensing agreement for its AT351 liquid drug product with ‘a wholly owned subsidiary of one of the world’s largest independent chemicals marketing companies’. Arecor says it receives an undisclosed upfront payment and is eligible for development, regulatory, and commercial milestone payments and royalties on global sales. The licensee receives an exclusive worldwide license and is responsible for all development, regulatory and commercialisation activities. The licensee will pursue approval from the US Food & Drug Administration, with filing expected within three years.
Chief Executive Officer Sarah Howell said: ‘We are delighted to announce this key advancement for AT351... 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.’
Current stock price: 72.00 pence, up 3.6%
12-month change: down 60%
Copyright 2024 Alliance News Ltd. All Rights Reserved.
