AGM Statement

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/

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For more information, please contact:

Arecor Therapeutics plc	www.arecor.com
Dr Sarah Howell, Chief Executive Officer	Tel: [phone] Email: [e-mail]
Susan Lowther, Chief Financial Officer	Tel: [phone] Email: [e-mail]
Mo Noonan, Communications	Tel: [phone] Email: [e-mail]
Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking)	Tel: [phone]
Consilium Strategic Communications Chris Gardner, David Daley, Lindsey Neville	Tel: [phone] Email: [e-mail]

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

 

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