Biopharmaceutical company Arecor Therapeutics plc (AIM: AREC) announced on Wednesday that it has entered into a formulation study agreement with a major global pharmaceutical company to develop an enhanced formulation of the partner's proprietary product using its Arestat technology platform.

The collaboration will be fully funded by the partner, with the potential for future licensing opportunities.

Arecor specialises in transforming patient care by enhancing existing therapeutic products and developing proprietary treatments in diabetes and other indications. The Arestat platform is backed by an extensive patent portfolio.