Business
AGM Statement
AGM Statement.
About this update from Arecor Therapeutics Plc
[{"type":"text","content":"\n\nArecor Therapeutics plc\n(\"Arecor\", the \"Company\" or the \"Group\")\n \nAGM STATEMENT\nA year of delivery and execution across the Arecor business: building a broad platform for long-term success\n \nCambridge, 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.\n \nAt the meeting, Andrew Richards, Non-Executive Chair, will make the following statement:\n \n\"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.\n \n\"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.\n \n\"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.\n \n\"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...