Arecor Therapeutics plc announced the expansion of its ongoing, exclusive formulation study collaboration with the pharmaceutical division of one of the world's largest chemicals marketing and pharmaceuticals companies, which focuses on the development and commercialisation of speciality drugs. The collaboration, in which Arecor is using its proprietary formulation technology platform, Arestat?, to develop a differentiated, ready-to-use liquid formulation of its partner's product, AT351, has progressed significantly since it began in November 2022. Arecor will now undertake additional in-house activities to accelerate the development programme, enabling rapid progress towards its partner's Pre-Investigational New Drug (Pre-IND) meeting with the US FDA.

The partner will provide additional funds for Arecor's expanded development work and continues to have an option to acquire the rights to the new proprietary formulation and associated Intellectual Property under Arecor's technology licensing model to further develop and commercialise the product.