PVG.L Regulatory News (PVG)

7 Jul 2005 07:00

Ark Therapeutics Group PLC07 July 2005 Ark Therapeutics Plc Board Appointment 07 July 2005, London UK: Ark Therapeutics Group plc ("Ark" or the "Company"),the specialist healthcare group, today announces the appointment of Dr. BruceCarter as a non-executive director and member of Ark's remuneration committeewith immediate effect. Dr Carter, who has over 25 years of pharmaceutical experience, is currentlyPresident and Chief Executive Officer of ZymoGenetics Inc ("ZymoGenetics"), the$1 billion NASDAQ-listed biopharmaceutical company focused on the discovery,development and commercialisation of protein-based therapeutics for theprevention or treatment of human diseases. In 1988 ZymoGenetics was acquired byNovo Nordisk and operated as a wholly owned subsidiary until late 2000, when thecompany regained its independence through a spinout transaction, which Dr Carterled. Prior to his role as CEO of ZymoGenetics, Dr Carter was CorporateExecutive VP and CSO of Novo Nordisk, and was responsible for over 2000employees and a budget of $300 million. Dr Carter has extensive experience at board level. He was on the Board ofManagement of Novo Nordisk from 1988 to 2000. He is currently on a number ofbiopharmaceutical boards including Renovis, a biopharmaceutical companydeveloping drugs to treat neurological diseases and disorders and Epigemomics, acompany listed on the Deutsche Borse that focuses on improving the prognosis ofpatients with cancer and other common diseases. Commenting on this appointment, Dennis Turner, Chairman of Ark, said: "We aredelighted to welcome Bruce to Ark. He has an established reputation and iswell respected within the international biopharmaceutical industry. Hisexpertise in America will add a significant new dimension to the Board and hewill be a great asset to Ark as we advance our pipeline towardscommercialisation." For further information, please contact: Ark Therapeutics Group plc 020 7388 7722Dr Nigel Parker, CEO Financial Dynamics 020 7831 3113Lucy Briggs Notes to Editors Ark Therapeutics Group plc Ark is a specialist healthcare group (the "Group"), addressing high value areasof clear unmet medical need. With one marketed product, Kerraboot(R), and threefurther lead products in late stage clinical development: Vitor(TM), Cerepro(TM) and Trinam(TM), the Group is transitioning from an R&D focused company to acommercial, revenue generating business. Capitalising on over ten years ofresearch in vascular biology and gene-based medicine, Ark has a broad productportfolio targeted at specific unmet clinical needs within vascular disease,wound care and cancer. These are large and growing markets, where opportunitiesexist for effective new products to generate significant revenues. Cerepro(TM) is on track to becoming one of the world's first commercially available gene-based medicines. Ark's products are sourced from related but largely non-dependent technologieswithin the Group and have been selected to enable them to be taken throughdevelopment within the Company's own means and to benefit from Orphan DrugStatus and/or Fast Track Designation, as appropriate. This strategy has allowedthe Group to retain greater value and greater control of clinical developmenttimelines, and to mitigate the risks of dependency on any one particularprogramme or development partner. Ark has secured patents or has patentapplications pending for all its lead products in principal pharmaceuticalmarkets. This announcement includes "forward-looking statements" which include allstatements other than statements of historical facts, including, withoutlimitation, those regarding the Group's financial position, business strategy,plans and objectives of management for future operations (including developmentplans and objectives relating to the Group's products and services), and anystatements preceded by, followed by or that include forward-looking terminologysuch as the words "targets", "believes", "estimates", "expects", "aims","intends", "will", "can", "may", "anticipates", "would", "should", "could"orsimilar expressions or the negative thereof. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other important factorsbeyond the Group's control that could cause the actual results, performance orachievements of the Group to be materially different from future results,performance or achievements expressed or implied by such forward-lookingstatements. Such forward-looking statements are based on numerous assumptionsregarding the Group's present and future business strategies and the environmentin which the Group will operate in the future. Among the important factors thatcould cause the Group's actual results, performance or achievements to differmaterially from those in forward-looking statements include those relating toArk's funding requirements, regulatory approvals, clinical trials, reliance onthird parties, intellectual property, key personnel and other factors. Theseforwardlooking statements speak only as at the date of this announcement. TheGroup expressly disclaims any obligation or undertaking to disseminate anyupdates or revisions to any forward-looking statements contained in thisannouncement to reflect any change in the Group's expectations with regardthereto or any change in events, conditions or circumstances on which any suchstatements are based. As a result of these factors, prospective investors arecautioned not to rely on any forward-looking statement. This information is provided by RNS The company news service from the London Stock Exchange