Cambridge, UK., 4 January 2019: Arecor Ltd (“the Company”), the specialty pharmaceutical company
leveraging its innovative and proprietary formulation technology to develop superior treatments for a
range of disease areas, including diabetes, is pleased to announce that the Company has filed a Clinical
Trial Application (“CTA”) to conduct a Phase I study in Type 1 patients of its ultra-rapid acting insulin
product, AT247. This novel formulation of prandial insulin is designed to deliver an acceleration of
insulin absorption post injection.

The study will compare the pharmacokinetic and pharmacodynamic profiles of AT247 to that of
Novolog® and FIasp®, as well as assess safety and tolerability, which will be conducted at a clinical site
in Austria – an internationally recognised centre of excellence within the field of diabetes research.

Ultra-rapid prandial insulin:
There is a recognised patient need to develop prandial insulins with a faster onset of action than the
current state of the art products. Prandial insulin is used by diabetics to control the rise in blood glucose
after eating. A faster onset of action would enable the more effective management of blood glucose
around mealtimes and should lead to better postprandial glycaemic control, reduction in variability,
improved HbA1c and allow greater flexibility in the timing of insulin injections.

Sarah Howell, CEO at Arecor, commented:
"We are delighted to be filing a CTA with the Austrian Regulatory Authorities to conduct the first Phase I
clinical trial of our innovative ultra-rapid acting insulin. This represents a key and important milestone in
the advancement of the Company’s proprietary portfolio for diabetes care.”

“There remains a critical unmet need to develop even faster acting insulins that more closely match a
healthy body’s physiological response to blood glucose and should lead to better postprandial glycaemic
control, patient compliance and control and ultimately lead to improved health outcomes. These insulins
can also pay a pivotal role in advancing the development of a fully closed loop artificial pancreas system. I
am extremely proud of Arecor’s contribution to developing improved treatments for patients living with
debilitating and often life-threatening diseases”.