Arecor Therapeutics PLC Business Update (1431F)
14 July 2021 - 4:00PM
UK Regulatory
TIDMAREC
RNS Number : 1431F
Arecor Therapeutics PLC
14 July 2021
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
BUSINESS UPDATE
Continued progress across proprietary and partnered
portfolio
Cambridge, UK, 14 July 2021: Arecor Therapeutics plc (AIM:
AREC), a globally focused biopharmaceutical company advancing
today's therapies to enable healthier lives, provides a business
update and announces that its interim results for the six months
ended 30 June 2021 will be issued during the week commencing 20
September 2021.
Arecor is pleased to report progress in line with expectations.
The first six months of the financial year included Admission to
the AIM market on 3 June 2021 and a successful placing which raised
GBP20 million from new and existing shareholders. The Company
closed the first half of its financial year with a strong cash
position of GBP22.1 million.
During the period, Arecor added to its partner portfolio of
global pharmaceutical companies with three new agreements with
Hikma, Eli Lilly and Par Sterile Products, an Endo International
plc company. Arecor will apply its Arestat(TM) technology, which
enhances the properties of therapeutic proteins, peptides and
vaccines, to deliver superior reformulations of its partners
proprietary products.
In June, Arecor presented data at ATTD following the successful
results of its Phase 1 study of AT247 ultra-rapid acting insulin,
in which AT247 demonstrated faster insulin absorption with an
accelerated Pharmacokinetic (PK) and Pharmacodynamic (PD) profile
compared to NovoRapid(R) and Fiasp(R) . Preparation is also
underway for the commencement of a three day insulin pump clinical
trial with AT247. The Phase I clinical trial for AT278, an
ultra-concentrated rapid acting insulin, continues to progress,
with topline results expected later this year.
Sarah Howell, Chief Executive Officer of Arecor, said: "A key
focus for H2 2021 is the Phase I clinical trial for AT278 which, if
successful, would add significantly to the diabetes franchise and
build on the positive data from the phase 1 study of AT247. We
continue to build momentum across the business with strong progress
across our in-house proprietary pipeline and further strengthening
of our partner portfolio with new agreements with Hikma, Lilly and
Par, further demonstrating the strength of our Arestat(TM)
platform. With a robust financial base now in place following our
successful IPO on AIM in June, we look forward to improving patient
care by bringing innovative medicines to market and in doing so
building further shareholder value."
This announcement contains inside information for the purposes
of the retained UK version of the EU Market Abuse Regulation (EU)
596/2014 ("UK 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) Tel: +44 (0) 20
7886 2500
Rupert Dearden (Corporate Broking)
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
company 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(TM), 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(TM) platform is supported by an extensive patent
portfolio.
For further details please see our website, www.arecor.com
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