Arecor Therapeutics (AREC,) a globally focused biopharmaceutical company provided an update on its performance in 2022, citing a stream of new partnerships, progress within its own portfolio, and a successful fundraise of £6 million to acquire Tetris Pharma.
New partnerships with leading pharmaceutical companies strengthened Arecor’s reputation as an innovator, providing potential ongoing revenue streams.
Arecor achieved significant milestones in its insulin-based product portfolio. Phase I trials for AT247 demonstrated its suitability for automated insulin delivery in a closed-loop artificial pancreas system. The company also initiated a Phase I trial for AT278, its ultra-rapid acting and ultra-concentrated insulin candidate, targeting Type 2 diabetic patients.
To support its growth and strategic initiatives, Arecor successfully raised £6 million in funding. The capital was used to acquire Tetris Pharma, a move that bolstered Arecor's revenue-generating capacity in marketing, sales, and distribution.
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Arecor Therapeutics is a globally focused biopharma company transforming patient care by bringing innovative medicines to market and enhancing existing therapeutic products.
Using its tech platform Arestat - supported by an extensive patent portfolio - the company is developing its own portfolio of products, primarily focused on diabetes, as well as working with other leading pharma and biotech companies to deliver therapeutic products.
Since IPO in June 2021, Arecor has won eight new technology partnerships with major pharma and biotech companies, highlighting the need for its technology among leading pharma companies aiming to address unmet medical needs.
Within its clinical development programmes, its insulin-based candidate AT247 sits ahead of the curve 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.
Looking forward, Arecor said it will continue to build on its platform, with 2023 set to be a year of accelerated delivery across key areas of the business.
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