Fresh from her promotion to Minister for Children and Families at the Department for Education, Kemi Badenoch MP this week visited pioneering pharmaceutical developer Arecor Limited to discuss the current climate for SMEs in the healthcare industry. Using its innovative Arestat platform, Arecor has been able to successfully leverage a portfolio of proprietary products enabling improved treatment for diabetes care.
Mrs Badenoch heard about the role that investment from Venture Capital Trust (VCT) funds Albion and Downing played in Arecor’s growth. With VCT investment of over £6 million, Arecor has been able to successfully grow as a business, invest in product development and expand its workforce to twenty staff, with plans for further recruitment in the coming months.
A vocal supporter of Britain leaving the European Union, Mrs Badenoch was also keen to hear about Arecor’s plans for expansion in Saffron Walden in the coming years, alongside any new and developing partnerships the company had planned in markets outside of Europe.
Upon arrival, Mrs Badenoch was greeted by Arecor CEO Dr Sarah Howell and CFO Susan Lowther, who introduced the Minister to the company’s pioneering work, before providing a tour of their high-tech facility in Saffron Walden.
On the visit, Dr Sarah Howell, CEO of Arecor, said: "It was fantastic to meet with Mrs Badenoch and discuss life as an SME. She was very supportive, taking time to understand our business and the challenges we face. We look forward to building a positive, active relationship and to see her support the issues facing our industry in parliament."
Mrs Badenoch said that she “enjoyed learning so much about Arecor’s business and their contribution to our local economy”. On Arecor’s pioneering work in the field of drug improvement, she said that “their work in taking existing drugs like insulin and enhancing them to improve results for their patients is groundbreaking”, adding that she was also glad to hear that Arecor “found Chesterford Research Park to be one of the best places to attract talent in research and development”, which vindicated the council’s decision to invest in the Park.
Moving forward, Mrs Badenoch said that Arecor “has a very constructive relationship with the Government, especially regarding research funding” and added that she would continue to support the business in this regard whenever possible.