Chairman hails transformational year for Arecor
Cambridge’s AIM-quoted biopharma group Arecor Therapeutics saw its share price shoot 13p (3.45 per cent) higher to 393p after non-exec chair Dr Andy Richards delivered an upbeat pre-AGM statement.
Dr Richards was able to highlight an outstanding last year while flagging up several causes for optimism as 2022 and 2023 unfold.
He said Arecor was changing the global landscape of diabetes treatment.
Dr Richards said: “2021 was a truly transformational year for Arecor and the company has continued to make huge strides to continue this trajectory of growth.
“During the year our pipeline of proprietary and partnered products received validation through both exceptional clinical data and partnership progress. It is our vision to create a sustainable biopharmaceutical company by rejuvenating existing therapeutic products to make them better, safer and more convenient to use.
“Our two lead clinical stage programmes are focused on improving the lives of those living with diabetes. The impact that the growing global number of diabetes patients is having on our resources, health sector and lives cannot be underestimated.
“The Phase I clinical trial data for both our lead product, AT247, an ultra-rapid insulin and for our second product AT278, a concentrated rapid insulin targeting patients who require higher volumes of insulin, excelled our expectations. We believe that our products will provide that key to unlock the future treatment landscape for diabetes.
“With our partnered portfolio continuing to attract high calibre pharmaceutical companies and strong support from our shareholders following our successful IPO on the London Stock Exchange last year, we believe that Arecor is well positioned to both deliver on existing programmes and attract new and exciting opportunities in the coming year to create long-term shareholder value.”