TIDMAKT
RNS Number : 0135O
Ark Therapeutics Group PLC
12 September 2011
ARK THERAPEUTICS GROUP PLC
Ark Therapeutics and PsiOxus Therapeutics enter manufacturing
partnership
London, UK - 12 September 2011, Ark Therapeutics Group plc
("Ark") is pleased to announce that it has signed a manufacturing
partnership agreement with PsiOxus Therapeutics Ltd ("PsiOxus")
under which Ark will provide full manufacturing and related
services to support the development of PsiOxus' ColoAd1 programme
for the treatment of colorectal cancer. Ark will work with PsiOxus
in providing oncolytic adenoviral material for IV administration in
toxicological and Phase I/II clinical studies, utilising Ark's
suspension based single use system (ATOSUS). Financial details of
the agreement were not disclosed.
Martyn Williams, CEO of Ark commented: "We are delighted to
announce the partnership with PsiOxus for their highly promising
ColoAd1 programme. As well as providing leading edge manufacturing
capabilities, PsiOxus will benefit from Ark's experience in the
regulatory CMC aspects of developing a gene-based medicine. We look
forward to a long and successful partnership."
John Beadle, CEO of PsiOxus, stated: "Of critical importance to
us was to choose a manufacturing partner who had not only the
relevant manufacturing know-how but also the manufacturing
development capability and specific regulatory knowledge to ensure
we hit our development timelines through the timely provision of
material for final pre-clinical toxicology and clinical phases. We
believe Ark has the necessary expertise and experience to do
this."
For further information please contact:
Ark Therapeutics Group Tel: + 44 (0)20 7388 7722
plc
Martyn Williams, CEO
Iain Ross, Chairman
Financial Dynamics Tel: +44 (0)20 7831 3113
Ben Atwell
Susan Quigley
PsiOxus Therapeutics Ltd Tel: + 44 (0) 7810 770
310
Dr John Beadle, CEO
Chempetitive Tel: + 44 (0) 20 3159
4145
Tony Stephenson
Ark Therapeutics Group plc
Ark Therapeutics Group plc is a specialist healthcare group (the
"Group") addressing high value areas of unmet medical need within
vascular disease and cancer. These are large and growing markets,
where opportunities exist for effective new products to generate
significant revenues.
Ark has an early stage pipeline emanating from collaborations
with University College, London and the AI Virtanen Institute in
Kuopio, Finland, the development of which it intends to progress in
collaboration with pharmaceutical and biotech partners.
In addition Ark has the ability to off-set a proportion of its
R&D costs and to generate sustainable revenues through the
exploitation of its proprietary technology platform, process
development, scale-up and manufacturing capabilities on behalf of
third parties.
Ark has its origins in businesses established in the mid-1990s
by Professor John Martin of University College London and Professor
Seppo Yla-Herttuala of the AI Virtanen Institute at the University
of Kuopio, Finland, both of whom remain consultants on the
Company's research and development programmes.
Ark's shares were first listed on the London Stock Exchange in
March 2004 (AKT.L).
PsiOxusTherapeutics, Ltd.
PsiOxus Therapeutics is an Oxford, UK based development stage
biotechnology company using non-traditional approaches to develop
novel therapeutics that address cancer and other clinically unmet
diseases. The Company's lead candidate is MT-102, a dual action
Anabolic Catabolic Transforming Agent (ACTA) in phase II clinical
development for the treatment of cachexia and sarcopenia. ColoAd1,
an oncolytic virus for the systemic treatment of metastatic cancer,
has demonstrated optimal anti-cancer properties in late
pre-clinical development against a wide range of solid tumours and
will enter phase I/II clinical development in 2012. The Company is
also developing treatments based upon the research phase vaccine
platform PolySTAR, which combines recombinant viral vectors with
polymers to shield them from the immune system, and the research
phase adjuvant and immunotherapeutic platform PolyMAP, which
combines polymers with synthetic adjuvants to significantly enhance
the effectiveness of vaccines. www.PsiOxus.com
This announcement includes "forward-looking statements" which
include all statements other than statements of historical facts,
including, without limitation, those regarding the Group's
financial position, business strategy, plans and objectives of
management for future operations (including development plans and
objectives relating to the Group's products and services), and any
statements preceded by, followed by or that include forward-looking
terminology such as the words "targets", "believes", "estimates",
"expects", "aims", "intends", "will", "can", "may", "anticipates",
"would", "should", "could" or similar expressions or the negative
thereof. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors beyond the Group's
control that could cause the actual results, performance or
achievements of the Group to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding the Group's present and
future business strategies and the environment in which the Group
will operate in the future. Among the important factors that could
cause the Group's actual results, performance or achievements to
differ materially from those in forward-looking statements include
those relating to Ark's funding requirements, regulatory approvals,
clinical trials, reliance on third parties, intellectual property,
key personnel and other factors. These forward-looking statements
speak only as at the date of this announcement. The Group expressly
disclaims any obligation or undertaking to disseminate any updates
or revisions to any forward-looking statements contained in this
announcement to reflect any change in the Group's expectations with
regard thereto or any change in events, conditions or circumstances
on which any such statements are based. As a result of these
factors, readers are cautioned not to rely on any forward-looking
statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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