Arecor signs further deal with Lilly
UK biotech Arecor Therapeutics’ (AIM: AREC) shares edged up more than 2% to 190.00 pence today, after it announced the signing of further collaboration agreement with US pharma major Eli Lilly (NYSE: LLY).
Under the terms of this new accord, Arecor will use its proprietary formulation technology platform, Arestat, 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 commercialize the product. Further financial terms were not disclosed.
Partnered portfolio continues to expand
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