Arecor due to transfer formulation for new medicine to Hikma Pharmaceuticals in first half of 2022
Arecor Therapeutics expects to transfer the final formulation for a new ready-to-use, injectable medicine to Hikma Pharmaceuticals in the first half of 2022.
The Chesterford Research Park company announced a co-development agreement for AT282 - in an undisclosed indication - with the London-based pharma company in January 2020, which led to an upfront payment.
Arecor is responsible for optimising the formulation using its proprietary Arestat technology platform. A milestone payment will be triggered when Arecor hands over the formulation.
Sarah Howell, CEO of Arecor, said: "We are pleased with the progress being made with AT282, the first of two co-development programmes with Hikma. Ready-to-use medicines such as AT282 are becoming increasingly important in the hospital setting and we are proud that our ArestatTM technology is supporting the development of a medicine that has the potential to provide a safer, more convenient and immediate treatment option for patients. We look forward to updating the market on our continued progress with this programme.”