REG - Arecor Therapeutics - Arecor and Medtronic Diabetes collaboration

Arecor TherapeuticsAnnouncement

09/05/2024 07:00

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RNS Number : 6997N  Arecor Therapeutics PLC  09 May 2024

Arecor Therapeutics plc

("Arecor" or the "Company")

 

ARECOR AND MEDTRONIC DIABETES ESTABLISH COLLABORATION TO DEVELOP A NOVEL
THERMOSTABLE INSULIN FOR IMPLANTABLE PUMP DELIVERY

 

-      Medtronic to fund Arecor's development of Arestat™ enabled
novel, high concentration, thermostable insulin, specifically tailored for use
in combination with a next-generation implantable pump

 

Cambridge, UK, 9 May 2024: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier lives,
today announced a research collaboration with Medtronic plc (NYSE: MDT), a
global leader in healthcare technology, to develop a novel, high
concentration, thermostable insulin for use by Medtronic's Diabetes business
in a next-generation implantable pump.

 

This new insulin has the potential to bring significant advancements in the
current insulin treatment options for a small population of patients who have
limited options for controlling their diabetes with traditional therapy. This
collaboration has the potential to allow for the continued care of these
patients with an insulin that may minimise the need for pump maintenance
interventions and expand the utility for physicians, whilst saving healthcare
costs.

 

Sarah Howell, Chief Executive Officer of Arecor, said: "Our leadership in this
field has been demonstrated through our best-in-class ultra-rapid acting
clinical development programmes (AT278 & AT247). Within the diabetes field
more broadly we are seeing the rise of innovative delivery devices, including
longer-wear and miniaturised pumps that are continually improving treatment
options for patients. We are excited to play our part in this progress with
the development of a highly differentiated insulin with the potential to
transform treatment for an extremely vulnerable patient group. This
collaboration is one of many we hope to enable, to further enhance the
benefits of these next-generation devices."

 

Gary Dulak, Senior Director, New Venture Programs Medtronic Diabetes, said:
"Medtronic Diabetes is a pioneer in implantable insulin pump systems for
people living with type 1 diabetes, who are unable to tolerate conventional
therapy that delivers insulin subcutaneously (under the skin). With
intraperitoneal therapy via an implantable insulin pump system, insulin
delivery is targeted for direct absorption by the liver via the implantable
pump. We are pleased to collaborate with Arecor to explore new ways to develop
this critical therapeutic option for the subset of individuals who may benefit
from it."

 

This announcement contains inside information for the purposes of the
retained UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK
MAR").

 

Product not approved by the FDA for any use and not available for research or
commercial use in the US.

 

-ENDS-

 

 

For more information, please contact:

 

 Arecor Therapeutics plc                         www.arecor.com (http://www.arecor.com/)
 Dr Sarah Howell, Chief Executive Officer        Tel: +44 (0) 1223 426060

                                                 Email: info@arecor.com (mailto:info@arecor.com)

 Susan Lowther, Chief Financial Officer          Tel: +44 (0) 1223 426060

                                                 Email: info@arecor.com (mailto:info@arecor.com)

 Panmure Gordon (UK) Limited (NOMAD and Broker)
 Freddy Crossley, Emma Earl (Corporate Finance)  Tel: +44 (0) 20 7886 2500

 Rupert Dearden (Corporate Broking)

 WG Partners LLP (Financial Advisor)
 Nigel Barnes, Satheesh Nadarajah                Tel: +44 (0)203 705 9321

 David Wilson, Claes Spang

 ICR Consilium
 Chris Gardner, David Daley, Lindsey Neville     Tel: +44 (0) 20 3709 5700

                                                 Email: arecor@consilium-comms.com (mailto:arecor@consilium-comms.com)

 

Notes to Editors

 

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company
transforming patient care by bringing innovative medicines to market through
the enhancement of existing therapeutic products. By applying our innovative
proprietary technology platform, Arestat™, we are developing an internal
portfolio of proprietary products in diabetes and other indications, as well
as working with leading pharmaceutical and biotechnology companies to deliver
therapeutic products. The Arestat™ platform is supported by an extensive
patent portfolio.

 

The collaboration adds to Arecor's broad programme of diabetes focused
activities, led by its two lead proprietary clinical development programmes -
AT278 and AT247, two ultra-rapid acting insulin candidates that offer the
potential to simplify and improve blood glucose control for people living with
diabetes and could enable the development of next- generation miniaturised
insulin delivery systems and a fully closed loop artificial pancreas system.
In March 2024, Arecor established a research collaboration with TRx
Biosciences for the formulation development of an oral glucagon-like peptide-1
(GLP-1) receptor agonist product that would provide a more convenient
treatment option for patients with diabetes and obesity. The Group's specialty
pharmaceutical business, Tetris Pharma, commercialises Ogluo®, a glucagon
prefilled autoinjector pen for patients living with diabetes suffering from
severe hypoglycaemia.

 

For further details please see our website, www.arecor.com
(http://www.arecor.com)

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