Manufacturing agreement (3989R)

TIDMAKT

RNS Number : 3989R

Ark Therapeutics Group PLC

03 November 2011

ARK THERAPEUTICS GROUP PLC

Ark Therapeutics signs manufacturing agreement with University of Glasgow

London, UK - 3 November 2011, Ark Therapeutics Group plc ("Ark") is pleased to announce that it has signed a manufacturing agreement with University of Glasgow's Institute of Cardiovascular and Medical Sciences under which Ark will provide full manufacturing and related services to support the development of the Institute's gene-therapy programme for the treatment of vein graft failure associated with coronary artery bypass surgery. The contract was awarded following Ark's success in an open competitive tender process under public body procurement rules.

Ark will manufacture for University of Glasgow cGMP grade adenoviral vector expressing TIMP3 gene to be administered ex vivo to vein grafts at the time of coronary artery bypass surgery in the University's first-in-man Phase I/II trial to reduce vein graft failure. Financial details of the agreement were not disclosed.

Martyn Williams, CEO of Ark commented: "We are delighted to announce this agreement with the University of Glasgow for their highly innovative gene-therapy programme in heart bypass surgery. Our success in this competitive tender exercise further demonstrates that Ark is establishing itself as a leading provider of viral manufacturing services utilising our world leading expertise in this arena."

Professor Anna Dominiczak, Head of the College of Medical, Veterinary and Life Sciences at the University of Glasgow, said: "This research, to prevent vein graft failure, is a very important development. It is crucial that we work with an experienced company for provision of clinical grade reagents for our clinical trial, which if successful will make a substantial difference to the long-term success of heart bypass procedures."

Andrew Baker, British Heart Foundation Professor of Translational Cardiovascular Sciences and Principal Investigator on the trial at the University of Glasgow, said: "The adenoviral vector forms the centre piece of this clinical trial which has been co-funded by the UK's Medical Research Council and the British Heart Foundation. The trial will take place at the Golden Jubilee National Hospital, Glasgow. We are delighted to partner with Ark in this venture which has the potential to transform heart bypass treatment."

For further information please contact:

 
   Ark Therapeutics Group plc     Tel: + 44 (0)20 7388 7722 
   Martyn Williams, CEO 
   Iain Ross, Chairman 
 
   FTI Consulting                 Tel: [phone] 
   Ben Atwell 
   Susan Quigley 
 

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).

The Institute of Cardiovascular and Medical Sciences of the University of Glasgow

The Institute includes both academic clinicians, scientists who are responsible for research, teaching and the delivery of clinical services within Glasgow.

The groups are based across Glasgow and the largest are sited within the Gilmorehill Campus in the purpose-built British Heart Foundation Cardiovascular Research Centre, which houses state-of-the-art laboratories, 3 T MRI Imaging, Confocal Microscopy, high throughput genotyping facilities.

There is also a fully staffed Clinical Research Facility within the Centre, jointly run with NHS Greater Glasgow & Clyde as part of the network of CRFs in the City. This building was opened in 2006, as a result of a generous donation by the British Heart Foundation and a fund raising effort by the University of Glasgow.

Facilities in the West Medical and Davidson Buildings, house some ground breaking researchers and laboratories the area of electrophysiology. In addition there are other groups looking at sports and exercise science. This includes interests in performance athletes and the use of exercise in assessment and management of common medical conditions.

Other current research includes the development of novel biological markers (haematological, biochemical and electrophysiological) in cardiovascular disease and ageing. There is also an extensive programme of research in stroke and cerebrovascular disease extending from acute stroke imaging and drug treatment (based in the Western Infirmary) to rehabilitation and assessment of care pathways (in Glasgow Royal Infirmary).

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.

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