Arecor Therapeutics plc announced a co-development and exclusive licence option agreement with a leading global medical products company for a high-value, ready-to-dilute("RTD")oncology product from Arecor's in-house Specialty Hospital pipeline. Under the terms of the agreement, Arecor and its partner will conduct further co-development and regulatory work with Arecor eligible to receive potential developmental milestones. The agreement includes an option for the partner to be granted an exclusive, worldwide license to further develop and commercialise the product, with Arecor eligible to receive milestones and royalty payments.

Arecor has developed a proprietary RTD form of a lyophilized powder product using its formulation technology platform, Arestat?. This novel, liquid, RTD formulation of an existing 'blockbuster' oncology therapy has the potential to offer significant advantages to the current product by replacing a lengthy, resource intensive reconstitution process, promoting safe medical practices and simplifying care with reduced patient chair time.