Arecor Therapeutics plc
(“Arecor”, the “Company” or the “Group”)
Momentum continues across partnered and proprietary portfolio
Cambridge, UK, 20 January 2022: 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 preliminary results for the 12 months ended 31 December 2021 will be issued during the week commencing 25 April 2022.
The financial performance for the 12 months ended 31 December 2021 was in line with expectations and the Group closed its financial year with a strong cash balance of £18.3 million.
Arecor’s proprietary portfolio is advancing on track. As announced today, the first patient has been dosed in the US Phase I trial of AT247, Arecor’s ultra-rapid insulin for the treatment of diabetes to investigate the product’s potential when delivered by continuous subcutaneous infusion via insulin pump. The trial is expected to complete in H2 2022 and builds on an earlier European Phase I clinical study in Type I diabetic patients in which AT247 exhibited an earlier insulin appearance, exposure, and offset, with corresponding enhanced early glucose-lowering effect compared with NovoRapid® and Fiasp®.
The Group also continues to drive growth through its portfolio of collaborations across leading pharmaceutical, medical products and biotech companies. The two exclusive formulation study collaborations signed in Q4 2021 add to the Group’s expanding portfolio of revenue generating partnerships and demonstrate the potential of Arecor’s ArestatTM formulation technology to bring enhanced products to market for partners, simplifying care and improving medicine management. As previously announced, in H1 2022 Arecor expects further progress in its co-development agreement with Hikma to develop a new, ready-to-use (RTU) injectable medicine (AT282), transferring the final formulation to Hikma and triggering a milestone payment.
Arecor is also pleased to announce that the European Patent Office has granted patent EP3496734B, with claims protecting novel compositions of insulin glargine with improved thermostability. This grant further demonstrates the strength of the patent portfolio protecting the Group’s proprietary ArestatTM technology.
Sarah Howell, Chief Executive Officer of Arecor, said: “The continued business progress reflects the strength of our formulation technology and the role it can play in the development of innovative medicines through the enhancement of existing therapeutic products. In the coming months we very much look forward to advancing both our proprietary pipeline and expanding further our portfolio of partnerships. 2022 has begun with strong momentum across the business and we look forward to further updating the market at our preliminary results.”
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)
For more information, please contact:
|Arecor Therapeutics plc||www.arecor.com|
|Dr Sarah Howell, Chief Executive Officer||Tel: +44 (0) 1223 426060
|Susan Lowther, Chief Financial Officer||Tel: +44 (0) 1223 426060
|Mo Noonan, Communications||Tel: +44 (0) 7876 444977
|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
Notes to Editors
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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