Arecor inks partnership with unnamed pharma giant

(Sharecast News) - Biopharmaceutical company Arecor Therapeutics has entered into a partnership agreement with an unnamed global top-10 pharmaceutical company, it announced on Thursday. The AIM-traded firm said the collaboration was intended to develop an advanced antibody formulation for one of the latter's investigational drugs.

Central to the alliance, Arecor said it would employ its exclusive 'Arestat' formulation technology platform.

The objective was to produce a novel liquid antibody formulation boasting high concentration and stability.

As per the terms of the contract, the partnering pharmaceutical giant would finance the formulation development efforts.

"This collaborator is a leader in the development of novel medicines," said chief executive officer Sarah Howell.

"Arecor has a proven track record of leveraging its Arestat technology to help deliver these complex therapeutics.

"We work closely with our partners to develop more effective treatments where superior properties bring even greater benefit to patients and we look forward to working with the world-renowned research and development team."

At 1507 BST, shares in Arecor Therapeutics were up 2.63% at 195p.

Reporting by Josh White for Sharecast.com.