Arecor sells rights to non-Ogluo® products
Arecor sells non-Ogluo product rights from Tetris Pharma to Aspire Pharma for £0.5 million.
- Cash payment £0.5 million
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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.
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