Arecor Therapeutics Plc · LSE:AREC
Arecor Therapeutics — FY2023 Earnings Presentation
25 slides from Arecor Therapeutics's earnings presentation, May 16, 2024
Slide 1: Advancing today’s therapies to enable healthier lives
Advancing today’s therapies to enable healthier lives Results for the year ended 31 December 2023 16th May 2024 www.arecor.com
Slide 2: Legal notice
Legal notice This Presentation does not constitute, or form part of, nor is it intended to communicate, any offer, invitation, inducement or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company in any jurisdiction nor shall it, or
Slide 3: Presentation Team
Presentation Team Dr Sarah Howell Manjit Rahelu Chief Executive Officer Chief Business Officer >25 years experience in biotech and pharma, >25 years of scientific, commercial, deal-making and encompassing senior level commercial and financial experience across major global managerial roles: pharmace
Slide 4: Building value through better patient care
Building value through better patient care Developing enhanced therapeutics that address areas of high unmet need in large markets ArestatTM Platform Technology Revenue generating partnerships Specialty hospital Diabetes & Obesity Technology Licensed In-house Commercial In-house Technology partnersh
Slide 5: Operational highlights (including post-period events)
Operational highlights (including post-period events) Driving better healthcare through the transformation of today’s therapies Licensing and partnering In-house proprietary pipeline • AT278 Phase I clinical study in Type 2 diabetic • AT220 launched by partner, Arecor receiving royalties patients on
Slide 6: Partnered Programmes
A broad portfolio of de-risked development and commercial products Balanced portfolio of commercial and development assets offering optionality on partnering and revenue growth potential Current Product Area Research Preclinical Phase I Phase II Phase III Est launch1 market size AT278 Diabetes 2028
Slide 7: Capturing long term value through partnerships
01 Capturing long term value through partnerships Page 6 Arecor 2024 | Confidential
Slide 8: First product launched under license and significant progress across pipeline
First product launched under license and significant progress across pipeline Generating near-term and longer-term revenues from development milestones and commercial/royalty payments AT220 Undisclosed partner AT292 (INHBRX-101) • Now launched and generating royalties to Arecor under worldwide licen
Slide 9: Specialty Hospital
Specialty Hospital Page 8 Arecor 2024 | Confidential
Slide 10: Aim to become global leader in RTU/RTA specialty hospital products
Aim to become global leader in RTU/RTA specialty hospital products Developing Ready-To-Use (RTU) / Ready-To-Administer (RTA) products for unmet needs of patients and healthcare systems ArestatTM enabled RTA/RTU products Safety - help to reduce medication errors Speed & convenience - Improved workflo
Slide 11: Driving value with in-house proprietary Specialty Hospital Portfolio
Driving value with in-house proprietary Specialty Hospital Portfolio Using our proven development engine to generate closer to market products, more quickly Illustrative Specialty Hospital revenue build Commercial Value Generation 12.0 10.0 Arecor’s investment at least recouped from Royalty range 8.
Slide 12: Ogluo driving revenue growth since launch within ~£100m market segment
Ogluo® driving revenue growth since launch within ~£100m market segment Arecor commercial arm, Tetris Pharma provides optionality to retain value across specialty hospital portfolio GlucaGen® Hypokit® – Current SoC Ogluo® - RTU Glucagon PEN Ogluo® key RTU glucagon product for people with diabetes In
Slide 13: Enhanced insulins for more effective treatment of diabetes
Enhanced insulins for more effective treatment of diabetes AT278 Phase I clinical data on track to report H1 24. Population of T2DM’s who are overweight / severely obese Page 12 Arecor 2024 | Confidential
Slide 14: Diabetes in crisis: There is still a need for improved insulins
Diabetes in crisis: There is still a need for improved insulins A growing major worldwide health issue with significant unmet needs in diabetes care 2030 2021 643 million 537million Est. by 2030 adults living with diabetes 2021 6.7 $966 64 million billion million deaths due to estimated global Insul
Slide 15: Diabetes: Portfolio of best-in-class ultra-rapid and concentrated insulins
Diabetes: Portfolio of best-in-class ultra-rapid and concentrated insulins Fastest acting meal-time insulins to improve patient outcomes Less than 25% achieve AT278 ‘disruptor insulin’ the first ultra- recommended blood concentrated ultra-rapid acting insulin for high insulin users glucose targets1
Slide 16: AT278 is unique – No ultra-concentrated, rapid acting insulin exists today
AT278 is unique – No ultra-concentrated, rapid acting insulin exists today The Need – Efficacy for high total daily dose needs • An increasing number of people with diabetes require high-doses of daily insulin.1 Nearly 10% of insulin scripts written in 2022 were for products with a concentration of
Slide 17: The profile of AT278 addresses key unmet needs and expanded applications
The profile of AT278 addresses key unmet needs and expanded applications AT278 products provide additional treatment options without directly competing with existing products A unique pen for high insulin users A miniaturised & longer wear nanoPatch • Unique attributes have the potential to become S
Slide 18: AT278 T1D: Met all primary end-points in Phase I with best-in-class PK
AT278 T1D: Successfully met all primary end-points in Phase I with best-in-class PK compared with 100 U/mL NovoRapid® Superiority for onset of appearance and exposure during 60 min after dosing compared with NovoRapid® (Novo Nordisk) Phase I clinical study¹ results AT278 vs NovoRapid® (p<0.05) 4 -fo
Slide 19: AT278 T1D: Met all primary end-points in Phase I with best-in-class PD profile
AT278 T1D: Successfully met all primary end-points in Phase I with best-in-class PD profile compared with 100 U/mL NovoRapid® Superiority for early insulin action during 60 min after dosing compared with NovoRapid® Phase I clinical study¹ results AT278 vs NovoRapid® (p<0.05) 9.5 mins faster onset of
Slide 20: AT278 Phase I clinical trial in T2DM’s headline results expected H1 24
AT278 Phase I clinical trial in T2DM’s headline results expected H1 24 Potential to become gold standard insulin for people with diabetes with high daily insulin needs • Patient dosing progressing well, expecting to report headline results H1 24 • Phase I randomised, double-blind study in adult pati
Slide 21: Financials and newsflow
04 Financials and newsflow Page 20 Arecor 2024 | Confidential
Slide 22: 2023 Financial Highlights
2023 Financial Highlights Revenue growth of 90% Key financials £m FY 2023 FY 2022 Group revenue 4.6 2.4 Revenue growth of 90% driven from product sales, Other income 1.1 1.3 milestones and first royalties Total Income 5.7 3.7 R&D costs include ARE-278- 104 clinical study (FY22 also included ARE-247-
Slide 23: Growth and breadth in revenue base
Growth and breadth in revenue base £m FY 2023 FY 2022 FY2023 revenues increased by 90% Formulation development 0.9 1.4 • First royalties received in Nov – Dec 23 period • License milestones across 3 agreements License milestones 0.7 - Royalties 0.1 - Loss after tax of £8.6m • Reflects lower R&D £6.0
Slide 24: Continuing 2023 momentum with significant upcoming milestones to drive growth
Continuing 2023 momentum with significant upcoming milestones to drive growth Existing licensing and new licensing upside potential plus key clinical data for AT278 in 2024 Near Term catalysts • AT278-104 clinical results • Significant potential returns from license milestones and royalties • Contin
Slide 25: Thank you
Contact Sarah Howell, CEO sarah.howell@arecor.com Manjit Rahelu, CBO manjit.rahelu@arecor.com www.arecor.com Thank you