REG - Arecor Therapeutics - ARECOR PROVIDES BUSINESS UPDATE

Arecor TherapeuticsAnnouncement

20/01/2022 07:05

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RNS Number : 0219Z  Arecor Therapeutics PLC  20 January 2022

Arecor Therapeutics plc

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

 

BUSINESS UPDATE

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 Arestat(TM) 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
Arestat(TM) 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)

 

-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 (mailto:info@arecor.com)

 Susan Lowther, Chief Financial Officer          Tel: +44 (0) 1223 426060

                                                 Email: info@arecor.com (mailto:info@arecor.com)

 Mo Noonan, Communications                       Tel: +44 (0) 7876 444977

                                                 Email: mo.noonan@arecor.com (mailto: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 (mailto: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™, 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
(http://www.arecor.com)

 

 

 

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