Arecor Receives £2.8 Million Grant Award From Innovate UKCoveted award for Phase II clinical development of lead product, AT247, its next generation ultra-rapid acting Insulin
CAMBRIDGE, United Kingdom, March 31, 2021 (GLOBE NEWSWIRE) -- Arecor Limited ("Arecor" or "the Company"), the biopharmaceutical company advancing today's therapies to enable healthier lives, today announces that it has been awarded a £2.8 million grant from Innovate UK to support the Phase II development of AT247, its ultra-rapid acting insulin product candidate which is based on Arecor's proprietary Arestat™ technology platform.
Sarah Howell, Chief Executive Officer of Arecor, said: " We are proud that Innovate UK has, through their thorough technical and commercial review process, chosen to invest in our research from across the very best of British science. Diabetes remains a significant and growing health problem throughout the world. AT247, the lead product from our pipeline of next generation rapid insulins is focused on transforming the lives of people living with Type 1 diabetes through its potential to enable greater glucose control. This control is critical in helping patients to avoid hyper- and hypo-glycaemia events, improve time in range and reduce overall disease complications. The substantial grant we are announcing today provides additional non-dilutive funding to support and accelerate AT247's Phase II development."
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