Business
Arecor Business Update
Arecor Business Update.
About this update from Arecor Therapeutics Plc
[{"type":"text","content":"\n\nArecor Therapeutics plc\n(\"Arecor\" or the \"Group\")\n \nBUSINESS UPDATE\n \n- Strong pipeline of revenue-generating collaborations with major pharmaceutical and biotech companies with further deals anticipated during H2 and beyond\n- Significant progress across proprietary diabetes focused portfolio with AT278 scheduled to complete within Q4 2023\n- Good partner progress across licensed portfolio\n \nCambridge, UK, 20 July 2023: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group 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 2023 will be issued in mid-September.\n \nArecor is pleased to report strong progress across the business in the first half of 2023, with advances across its in-house and partnered programmes and continued success in the roll-out of Ogluo® in key territories. Arecor looks forward to providing a full update on performance and outlook at the time of its interim results. The Group's unaudited cash position at 30 June 2023 was £8.2 million.\n \nSarah Howell, Chief Executive Officer at Arecor, said: \"We have continued to make significant progress across all areas of the business, strengthening the foundations for future growth across our in-house proprietary products and partnered programmes and supported by a revenue contribution from our commercial subsidiary, Tetris Pharma. Later this year we expect key data for AT278 and anticipate further value inflection points within our licensed product portfolio. With further partnerships and collaborations expected, we are continuing towards our ambition of building a significant self-sustaining biopharmaceutical company.\"\n \nThe Group has continued to make strong progress across its proprietary diabetes focused portfolio. The second Phase I clinical trial of AT278 in Type 2 diabetic patients is scheduled to complete within Q4 2023. AT278 is an ultra-rapid, ultra-concentrated (500U/mL) insulin candidate that has been designed to accelerate the absorption of insulin post injection, despite a 5-fold increase in concentration compared with 100U/mL insulins available to patients today. It has the potential to ...