Arecor Therapeutics PLC BUSINESS UPDATE (4138S)
14 July 2022 - 4:00PM
UK Regulatory
TIDMAREC
RNS Number : 4138S
Arecor Therapeutics PLC
14 July 2022
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 GBP13.7 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 Arestat(TM) 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 Arestat(TM)
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 Tel: +44 (0) 20 7886 2500
Finance)
Rupert Dearden (Corporate Broking)
Consilium Strategic Communications
Chris Gardner, David Daley, Angela Tel: +44 (0) 20 3709 5700
Gray 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(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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