Arecor Therapeutics
plc
("Arecor"
or the "Company")
ARECOR AND MEDTRONIC DIABETES
ESTABLISH COLLABORATION TO DEVELOP A NOVEL THERMOSTABLE INSULIN FOR
IMPLANTABLE PUMP DELIVERY
- Medtronic to fund Arecor's
development of Arestat™ enabled novel, high concentration,
thermostable insulin, specifically tailored for use in combination
with a next-generation implantable pump
Cambridge, UK,
9 May 2024: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's
therapies to enable healthier lives, today announced a research
collaboration with Medtronic plc (NYSE: MDT), a global leader in
healthcare technology, to develop a novel, high concentration,
thermostable insulin for use by Medtronic's Diabetes business in a
next-generation implantable pump.
This new insulin has the potential to bring
significant advancements in the current insulin treatment
options for a small population of patients who have limited
options for controlling their diabetes with traditional therapy.
This collaboration has the potential to allow for the
continued care of these patients with an insulin that may minimise
the need for pump maintenance interventions and expand the utility
for physicians, whilst saving healthcare costs.
Sarah Howell,
Chief Executive Officer of Arecor, said:
"Our leadership in this
field has been demonstrated through our best-in-class ultra-rapid
acting clinical development programmes (AT278 & AT247). Within
the diabetes field more broadly we are seeing the rise of
innovative delivery devices, including longer-wear and miniaturised
pumps that are continually improving treatment options for
patients. We are excited to play our part in this progress with the
development of a highly differentiated insulin with the potential
to transform treatment for an extremely vulnerable patient group.
This collaboration is one of many we hope to enable, to further
enhance the benefits of these next-generation
devices."
Gary Dulak,
Senior Director, New Venture Programs Medtronic Diabetes,
said: "Medtronic Diabetes is a pioneer in
implantable insulin pump systems for people living with type 1
diabetes, who are unable to tolerate
conventional therapy that
delivers insulin subcutaneously (under the skin). With
intraperitoneal therapy via an implantable insulin pump system,
insulin delivery is targeted for direct absorption by the liver via
the implantable pump. We are pleased to collaborate with Arecor to
explore new ways to develop this critical therapeutic option for
the subset of individuals who may benefit from it."
This announcement contains inside information
for the purposes of the retained UK version of the EU
Market Abuse Regulation (EU) 596/2014 ("UK MAR").
Product not approved by the FDA for any use and
not available for research or commercial use in the US.
-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
|
|
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Susan Lowther, Chief Financial
Officer
|
Tel: +44 (0) 1223 426060
Email: info@arecor.com
|
|
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Panmure Gordon
(UK) Limited (NOMAD and Broker)
|
|
Freddy Crossley, Emma Earl (Corporate
Finance)
Rupert Dearden (Corporate Broking)
|
Tel: +44 (0) 20 7886 2500
|
|
|
WG Partners
LLP (Financial Advisor)
|
|
Nigel Barnes, Satheesh Nadarajah
David Wilson, Claes Spang
|
Tel: +44 (0)203 705 9321
|
|
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ICR
Consilium
|
|
Chris Gardner, David Daley, Lindsey
Neville
|
Tel: +44 (0) 20 3709 5700
Email: arecor@consilium-comms.com
|
|
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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
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 therapeutic products. The
Arestat™ platform is supported by an extensive patent
portfolio.
The collaboration adds to Arecor's broad
programme of diabetes focused activities, led by its two lead
proprietary clinical development programmes - AT278 and AT247, two
ultra-rapid acting insulin candidates that offer the potential to
simplify and improve blood glucose control for people living with
diabetes and could enable the development of next- generation
miniaturised insulin delivery systems and a fully closed loop
artificial pancreas system. In March 2024, Arecor established a
research collaboration with TRx Biosciences for the formulation
development of an oral glucagon-like peptide-1 (GLP-1) receptor
agonist product that would provide a more convenient treatment
option for patients with diabetes and obesity. The Group's
specialty pharmaceutical business, Tetris Pharma, commercialises
Ogluo®, a glucagon prefilled autoinjector pen for patients living
with diabetes suffering from severe hypoglycaemia.
For further details please see our
website, www.arecor.com