Arecor Therapeutics plc
("Arecor" or the "Company")
ARECOR SELLS RIGHTS TO NON-OGLUO® PRODUCTS FROM TETRIS PHARMA PORTFOLIO TO ASPIRE PHARMA
Cambridge, UK, 8th May 2025: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical company advancing today's therapies to enable healthier lives, today announces the sale of rights to certain non-Ogluo® products from the portfolio of its Tetris Pharma subsidiary to Aspire Pharma Limited ("Aspire").
Under the terms of the agreement, Arecor will receive a cash payment of £0.5 million from Aspire in return for both the UK distribution rights to the products and the transfer of existing inventory. There is no separate financial information available in relation to the rights of the non-Ogluo® products being sold. The Board intends to use the proceeds of the Transaction for working capital purposes.
This agreement is part of the orderly cessation of Tetris Pharma operations, as announced in January 2025, and the Company's strategic focus on areas which best leverage its platform and resources to deliver transformational value opportunities.
For more information, please contact:
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Arecor Therapeutics plc |
www.arecor.com |
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Dr Sarah Howell, Chief Executive Officer |
Tel: +44 (0) 1223 426060 Email: info@arecor.com |
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David Ellam, Chief Financial Officer |
Tel: +44 (0) 1223 426060 Email: info@arecor.com |
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Singer Capital Markets Advisory LLP (NOMAD and Broker) |
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Phil Davies, Sam Butcher |
Tel: +44 (0) 20 7496 3000 |
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ICR Healthcare |
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Chris Gardner, David Daley, Lindsey Neville |
Tel: +44 (0) 20 3709 5700 Email: arecor@icrhealthcare.com |
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary technology platform, Arestat™, we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver therapeutic products. The Arestat™ platform is supported by an extensive patent portfolio. For further details please see our website, www.arecor.com