Arecor Therapeutics (AREC) a globally focused biopharmaceutical company, pointed to a strong pipeline of collaborations with major pharmaceutical and biotech companies in its latest business update, along with progress across its proprietary diabetes-focused portfolio, and good partner progress across its licensed portfolio.
Arecor has a robust revenue-generating pipeline through collaborations with major pharmaceutical and biotech companies, with more deals expected in the coming months. In June 2023, they inked an agreement with a top biopharma company to support the development of a biosimilar product. This marked its second agreement in the first half of 2023, with a previous formulation agreement signed with a Top 5 pharma partner in February.
The biotech company also showed progress across its diabetes portfolio, when results from Phase I clinical trial proved that AT247 demonstrated faster absorption compared to standard insulins, meeting an urgent need for a more rapid-acting insulin analogues. The second Phase I clinical trial is scheduled to complete within Q4 2023.
Arecor’s three licensed programs have made good progress under milestone and royalty agreements. Arecor expects its partner to commercialise the first product, AT220, utilising Arestat™ technology, in a multi-billion dollar market with anticipated US FDA approval in H2 2023.
Sarah 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."
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The update today highlights Arecor’s sustained momentum since its IPO in June 2021, with 10 technology partnerships signed since its admission to AIM. These partnerships secure revenue and offer significant upside potential from licensing under milestone and royalty bearing agreements.
Regarding its diabetes-focused portfolio, Arecor is addressing a growing demand for faster-acting insulins. Its insulin-based candidate AT247 sits ahead of the pack by offering accelerated insulin absorption compared with currently available gold standard rapid acting insulins, making it a potential game changer once it comes to market.
Arecor Therapeutics’ other insulin analogue, AT278, is also progressing well through trials, meeting all of its primary and secondary endpoints in its Phase I clinical trial completed in April last year. The company said it expects key data for AT278 later this year.
Arecor is already helping to alleviate the significant burden that diabetes has on healthcare systems with its key product Ogluo® , a treatment for patients with severe hypoglycaemia who have diabetes. The company is continuing its European commercial rollout of Ogluo®, adding Denmark and Norway in May 2023, following rollout in Austria, Germany and the UK.
Arecor remains well-funded, with £8.2 million cash at 30 June 2023.
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