Arecor Limited, a biopharmaceutical company, announced that it has signed a formulation study partnership with Eli Lilly and Company (“Lilly”), an American pharmaceutical company.
Under this agreement, Arecor will use its proprietary formulation technology Arestat™ to develop a differentiated, thermostable formulation of one of Lilly’s proprietary products intended for self-administration. The thermostable formulation allows greater convenience of use by patients while maintaining its integrity.
Arestat™ is an innovative and proprietary formulation technology platform that enhances the properties of therapeutic proteins, peptides and vaccines. Arecor applies the Arestat™ technology to deliver superior reformulations of existing products as well as improving the properties of new products in development.
Lilly will fund the development work and has the option to acquire the rights to the new proprietary formulation and associated Intellectual Property under a technology licensing model to further develop and commercialize the product.
Sarah Howell, Chief Executive Officer of Arecor, said: "We are delighted to be collaborating with Lilly again. We have always had a strong working relationship and we believe that our Arestat™ technology has the potential to deliver a new formulation that can improve the convenience of use of this critical self-administered product for Lilly’s patients. This collaboration with Lilly augments our partnership portfolio of major pharmaceutical companies and demonstrates how our formulation expertise can provide novel medical solutions for our partners.”
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