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REG - Arecor Therapeutics - BUSINESS UPDATE

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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 £13.7 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 (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)
 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

 

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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