Arecor, a Chesterford Research Park, Little Chesterford, Saffron Walden, UK-based biopharmaceutical formulation company, raised £6m in funding.
The round was led by Calculus Capital with participation from Albion Capital and Downing Ventures.
The comapny intends to use the funds to advance pharmaceutical drugs for the treatment of diabetes and for other conditions.
Led by Sarah Howell, CEO, Arecor leverages its technology platform to create drugs that help progress the creation of the next generation of artificial pancreas systems. The company’s ultra-rapid acting insulin and ultra-concentrated insulin closely mimic the insulin profile and response to glucose of healthy individuals, improving health outcomes and quality of life for people living with diabetes while reducing the wider costs to health services and society.
Arecor has developed a series of differentiated and proprietary formulations of generic insulin and glucagon drugs, which are used in the regulation of blood glucose.
The company plans to complete a series of first-in-man clinical trials for each of its three diabetic compounds and to partner with specialist diabetes companies for late stage clinical studies and global market access.