CAMBRIDGE, UK – Arecor Therapeutics plc (AIM: LON: ), a biopharmaceutical company, today announced the planned orderly exit of its subsidiary Tetris Pharma during 2025. The move comes in conjunction with a joint decision with Xeris BioPharma Holdings, Inc. (Nasdaq: XERS) to regain commercial rights to Ogluo®, a glucagon autoinjector pen for severe hypoglycemia.
The decision followed a strategic review that highlighted the financial unsustainability of Tetris Pharma due to increased supply chain costs and inflexible selling prices, leading to significantly reduced margins. The key loss of the NHS tender from a partner, which impacted sales of non-Ogluo® products, also contributed to the revised 2025 revenue outlook. Consequently, Arecor has decided to fully write down the goodwill and intangible assets associated with Tetris Pharma, amounting to approximately £3m in 2024.
Arecor’s focus will now shift to high-value research and development opportunities, particularly in the advancement of its ultra-rapid-acting insulin candidate, AT278, and oral peptide delivery platform. The company is actively involved in co-development partnership discussions for AT278 and has reported promising data for the oral GLP-1 receptor agonist, with non-clinical pharmacokinetic studies expected to begin in the first half of 2025.
Sarah Howell, CEO of Arecor, said this strategic shift underscores the company’s commitment to exploiting Arestat™ technology in areas with transformative potential. The company is poised to continue developing its partner portfolio of therapeutic products supporting Arestat™ under a technology licensing model, which is expected to generate revenue.
The existing license and supply agreement with Xeris gives Tetris Pharma the rights to sell and distribute Ogluo® in the EEA, UK and Switzerland. Termination of this agreement is subject to discussions with regulators and patient groups, and alternative glucagon products remain available in all territories.
The information in this article is based on a press release from Arecor Therapeutics plc.
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