Arecor Therapeutics PLC AGM Statement (1776C)
June 09 2023 - 2:00AM
UK Regulatory
TIDMAREC
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 GBP6 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(R), 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/
-ENDS-
For more information, please contact:
Arecor Therapeutics plc www.arecor.com
Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060
Officer 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 Tel: +44 (0) 20 7886 2500
and Broker)
Freddy Crossley, Emma Earl (Corporate
Finance)
Rupert Dearden (Corporate Broking)
Consilium Strategic Communications Tel: +44 (0) 20 3709 5700
Chris Gardner, David Daley, Lindsey Email: arecor@consilium-comms.com
Neville
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(TM), 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(TM) platform is supported by an
extensive patent portfolio.
For further details please see our website, www.arecor.com
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END
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