Arecor Therapeutics plc announced that it has signed a further collaboration agreement with Eli Lilly and Company. Under the terms of this agreement, Arecor will use its proprietary formulation technology platform, Arestattm, to develop a novel liquid formulation of one of Lilly's products with enhanced properties. Lilly will fund the development work and has the option to acquire the rights to the new formulation and newly created intellectual property under a technology licensing model to further develop and commercialise the product.