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14 Jul 2022 07:00
Arecor Therapeutics plc
("Arecor" or the "Group")
BUSINESS UPDATE
- Pipeline for future revenue generating partnered collaborations is strong with further deals anticipated in H2 and beyond
- Key data for ultra-rapid acting insulin AT247 expected in H2, next step in demonstrating its potential to facilitate a fully closed loop artificial pancreas, a transformational treatment option for people living with diabetes
Cambridge, UK, 14 July 2022: Arecor Therapeutics plc (AIM: AREC), a globally focused biopharmaceutical company advancing today's therapies to enable healthier lives, today provides a business update and announces that its interim results for the six months ended 30 June 2022 will be issued during the week commencing 5 September 2022. Arecor is pleased to report progress in line with expectations, as the Group continues to drive forward a commercially focused business model, advancing its best-in-class proprietary pipeline and expanding its partnered portfolio. The Group's unaudited cash position at 30 June 2022 was £13.7 million.
The pipeline for future revenue generating partnered collaborations is strong with further deals anticipated in H2 and beyond. In June, Arecor signed an exclusive formulation study collaboration with a top five global pharmaceutical company. Here, Arecor is applying the ArestatTM technology to develop improved, stable, high concentration liquid formulations of the partner company's proprietary products. This technology partnership continues to validate the strength of and need for the ArestatTM technology platform and Arecor continues to build a strong pipeline of potential future collaborations.
Within Arecor's diabetes franchise, excellent clinical progress continues. In May, the Group presented positive data at the 15th International Advanced Technologies and Treatments for Diabetes (ATTD) meeting from the Phase I clinical trial investigating Arecor's ultra-rapid acting, ultra-concentrated insulin product candidate, AT278. The data, which had exceeded expectations, were well received at the international congress and support both the candidate's continued development and its potential to significantly improve outcomes and quality of life for the growing population of people living with diabetes who have high daily insulin needs, particularly those with type 2 diabetes. In the same month, an Arecor-hosted key opinion leader webinar, entitled "The Need for Concentrated and Rapid Acting Insulin Treatments in Diabetes Care", brought together four world-class experts in the field of diabetes care to discuss the AT278 clinical data as well as the clear clinical and patient need. A further clinical trial of AT278, in people living with type 2 diabetes, is expected to begin dosing patients later this year. The Group is also on track to report headline data later in 2022 from the ongoing US Phase I trial investigating the potential of AT247, Arecor's ultra-rapid acting insulin product candidate, when delivered by continuous subcutaneous infusion via insulin pump. These data are key, both as an important next step in determining whether AT247 can facilitate a fully closed loop artificial pancreas, a transformational treatment option for people living with diabetes, and in turn, generating a partnering package demonstrating the superiority of AT247 compared to gold standard insulins available to patients today.
Sarah Howell, Chief Executive Officer at Arecor, said: "We continue to build strong momentum in the advancement of our internal portfolio of best-in-class proprietary products and partnered programmes. This progress gives us confidence in Arecor's science and business model, which underpins our vision to transform patient care and our ambition to build a large self-sustaining biopharmaceutical company. We look forward to further progress in 2022 within our diabetes franchise, with key data for AT247 in H2 having the potential to be a significant inflexion point for the Group, and we are continuing discussions with potential partners to expand our portfolio of revenue generating partnership deals."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)
-ENDS-
For more information, please contact:
Arecor Therapeutics plc | www.arecor.com |
Dr Sarah Howell, Chief Executive Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com |
Susan Lowther, Chief Financial Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com |
Mo Noonan, Communications | Tel: +44 (0) 7876 444977 Email: mo.noonan@arecor.com |
Panmure Gordon (UK) Limited (NOMAD and Broker) | |
Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) | Tel: +44 (0) 20 7886 2500
|
Consilium Strategic Communications | |
Chris Gardner, David Daley, Angela Gray | Tel: +44 (0) 20 3709 5700 Email: arecor@consilium-comms.com |
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical group transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary formulation 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 enhanced formulations of their therapeutic products. The Arestat™ platform is supported by an extensive patent portfolio.
For further details please see our website, www.arecor.com
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