Arecor, the Chesterford Analysis Park-based biopharmaceutical firm bringing revolutionary medicines to market by means of the enhancement of present therapeutic merchandise, has introduced its intention to drift on AIM (Different Funding Market).
Based in 2007 as a spin-out from Unilever, Arecor is advancing a strong portfolio of partnered and proprietary remedies from present therapies to allow more healthy lives.
Sarah Howell, Arecor’s CEO, mentioned: “This IPO will allow us to advance the event of our inner proprietary diabetes and specialty hospital merchandise to an outlined worth inflexion level previous to potential partnering.
“As well as, it would enable us to create additional worth by means of the expansion of our know-how licensing partnerships the place we leverage the Arestat know-how to develop enhanced reformulations of our companions’ merchandise, providing the potential for milestone and royalty funds in markets together with novel biologics, biosimilars and vaccines.
“Our two lead merchandise are in medical growth for the remedy of diabetes the place, regardless of advances in remedy choices, there stay vital unmet wants.
“There are estimated to be 463 million individuals residing with diabetes world-wide, with roughly 56 million insulin customers. By our Arestat know-how, we’re growing novel formulations of insulin with both enhanced ultra-rapid or ultra-concentrated fast appearing properties which have the potential to be life-changing for sufferers by enabling higher administration of their illness and larger use of latest approaches akin to the synthetic pancreas and miniaturised pumps.”
Arecor was awarded a £2.8m Innovate UK grant in April to speed up part II growth of its ultra-rapid appearing insulin product, AT247.
Andrew Richards, chairman of Arecor, added: “Arecor’s know-how and experience has been validated by means of a number of partnerships with main pharmaceutical and biotechnology corporations. The corporate additionally has a balanced enterprise mannequin that provides the potential for vital returns related to profitable drug growth however with diminished growth danger by means of growth of present authorized therapeutics merchandise and partnering.
“As somebody who has at all times championed the London market and has supported UK life science corporations to IPO in London I’m more than happy Arecor has chosen to listing on AIM. Led by a robust group and board, Arecor has the potential to change into a big UK biopharmaceutical firm and ship advantages to sufferers and clinicians.”
Admission is predicted to happen in early June 2021. Arecor’s most up-to-date annual turnover was $8m and it has a headcount of 36 staff.
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