Arecor is a globally focused biopharmaceutical company that is targeting improving patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying the Group’s innovative proprietary formulation technology platform, Arestat™, the Group is developing an internal portfolio of proprietary products, as well as working with pharmaceutical and biotechnology companies to deliver enhanced reformulations of their partners’ therapeutic products, supported by an extensive patent portfolio.
The Group’s current focus of internal proprietary product development can be divided into two product classes: diabetes and specialty hospital care. In addition, the Group also develops novel enhanced formulations of its partners’ biological products that include biosimilars, biological products and vaccines, which are derived from the Group’s formulation development and technology licensing programmes and are referred to as “Technology Partnerships”.
Admission to Trading on AIM
On 3rd June 2021, admission and dealings commenced by way of an Issue of New Ordinary Shares in aggregate by way of a Placing of 8,849,558 Ordinary Shares at 226 pence per Ordinary Share.
Reasons for Placing and Admission
The Company has conditionally raised £20.00 million by the issue of 8,849,558 Placing Shares at the Placing Price to take its internal proprietary products to higher value inflexion and to provide additional working capital and balance sheet strength.
The majority of the investment will be focused on the clinical programmes in diabetes together with further investment in expanding and developing the specialty hospital products pipeline towards partnerships. The proceeds of the Placing will also be used to recruit additional staff within product development, clinical development and commercial groups.
The Perivan shareholder communications team were delighted to work with Panmure Gordon who were appointed Nominated Adviser and Sole Broker to Arecor on the successful publication of the 183 -page admission document.
Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.