REG - Arecor Therapeutics - AGM Statement

Arecor TherapeuticsAnnouncement

09/06/2023 07:00

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RNS Number : 1776C  Arecor Therapeutics PLC  09 June 2023

Arecor Therapeutics plc

("Arecor", the "Company" or the "Group")

 

AGM STATEMENT

A year of delivery and execution across the Arecor business: building a broad
platform for long-term success

 

Cambridge, UK, 9 June 2023: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical company advancing today's therapies to enable healthier
lives, provides the following update ahead of its Annual General Meeting, to
be held today at 9.30 am at the offices of Covington & Burling LLP, 22
Bishopsgate, London EC2N 4BQ.

 

At the meeting, Andrew Richards, Non-Executive Chair, will make the following
statement:

 

"Arecor experienced a successful 2022, and despite a background of major
global challenges which impacted the financial markets and all segments of
industry including the pharmaceutical sector, we were encouraged by Arecor's
progress towards its ambition of building a significant self-sustaining
biopharmaceutical company.

 

"New partnerships with leading pharmaceutical companies strengthened our
reputation as an innovator that pharma and biopharma can work with and clearly
demonstrate the strength and relevance of our platform and intellectual
property. These partnerships provide a route to multiple potential ongoing
revenue streams through licenses and through pre-license technology
partnerships. Our existing partnerships continue to progress towards
commercialisation and we see significant further opportunities to apply our
technology in ready-to-use and ready-to-administer hospital care medicines and
to partner programmes across a range of indications and formulations.

 

"Within our own portfolio of insulin-based products, we successfully completed
a further Phase I clinical trial in diabetes for our ultra-rapid acting
insulin candidate AT247, which clearly showed that it possesses
characteristics that facilitate a fully closed loop artificial pancreas, with
optimal automated delivery of insulin. Furthermore, we closed the year with
initiation of a second Phase I clinical trial for AT278, an ultra-rapid
acting, ultra-concentrated insulin candidate, in Type 2 diabetic patients.

 

"In addition, we successfully raised £6 million to acquire Tetris Pharma,
providing Arecor with a revenue-generating marketing, sales and distribution
capability and greater optionality in the future both for our specialty
products franchise and potential partner products. The acquisition, and lead
product Ogluo®, bring the opportunity to accelerate our commercially driven
strategy.

 

"Looking forward, we will continue to build on the solid platform we have
established and believe 2023 will be a year of accelerated delivery across the
key areas of our business as we continue to build long-term value for our
shareholders."

 

Further information about the AGM can be found in the investor centre section
of our website https://arecor.com/investor-centre/shareholder-information/
(https://arecor.com/investor-centre/shareholder-information/)

 

 

 

-ENDS-

For more information, please contact:

 Arecor Therapeutics plc                          www.arecor.com (http://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)   Tel: +44 (0) 20 7886 2500

 Freddy Crossley, Emma Earl (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 Consilium Strategic Communications               Tel: +44 (0) 20 3709 5700

 Chris Gardner, David Daley, Lindsey Neville      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 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.

 

For further details please see our website, www.arecor.com
(http://www.arecor.com)

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