Unilever spin-off Arecor annouces London float to ramp up diabetes drug analysis

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biopharma business spun out of Unilever in 2007 is to listing on the stock sector as it appears to ramp up the growth of medication to support individuals with diabetic issues.

Cambridge-based mostly Arecor Therapeutics lately secured £2.8 million from Innovate Uk for AT247, its ultra-immediate insulin drug based mostly on the company’s Arestat know-how.

It thinks its direct solution can remodel the life of individuals residing with Style 1 diabetic issues by enabling the bigger regulate of blood glucose levels.

The business is chaired by biotech entrepreneur and trader Andrew Richards, who has  been director of extra than 25 health care and existence-science firms together with Vectura.

Main government Sarah Howell has been with the company considering that 2011, when the business principally applied its Arestat system to create prescription drugs for other pharmaceuticals firms.

Unilever is nevertheless a 20% shareholder in the company, though Calculus, Downing and Albion Ventures came on board as section of a fundraising in 2018.

The organization is assumed to be seeking to raise close to £20 million in future month’s flotation on London’s Aim junior industry. Panmure Gordon is performing as adviser and broker.

Richards explained Arecor had the potential to develop into a considerable biopharmaceuticals company and deliver benefits to patients and clinicians.

He added: “Arecor’s technological know-how and experience has been validated by means of many partnerships with main pharmaceutical and biotechnology firms.”