Arecor Ltd has said that partner Inhibrx Inc has exercised an option to license a novel enhanced formulation of its proprietary therapeutic candidate, INBRX-101.
This is the first license under a multi-product development agreement between two companies with the new formulation developed using Arestat, Arecor’s patented reformulation platform.
INBRX-101 is a treatment for Alpha-1 antitrypsin deficiency or AATD, a genetic disease that can cause serious lung disease in adults and/or liver disease at any age.
Sarah Howell, Arecor’s chief executive, said: “The exercise of this license option with our valued partner is an important testament of our ability to develop improved formulations of complex biopharmaceutical proteins.
“We have utilised Arestat to deliver a stable formulation of this innovative product. In doing so, we further our ultimate goal of supporting patients to gain access to superior therapeutic treatment options.”
Under the terms of the agreement, Arecor will receive an upfront payment and further milestone payments as targets are achieved along with an annual Technology Access Fee post-commercialisation.
Inhibrx has the rights to the new formulation, the associated IP and will be responsible for the manufacture and commercialisation of the product.