PVG.L Regulatory News (PVG)

Ark Therapeutics granted approval in France for tax credit for Research and Development activities

London, UK, 30 November 2012 Ark Therapeutics announces that the French Government Ministry for Higher Education and Research has granted it qualification for tax credit in France for Research and Development activities. The approval, which is valid through years 2012, 2013 and 2014, allows companies paying tax in France to claim tax credit against amounts paid to Ark for research and development services (details of the scheme may be found at http://www.enseignementsup-recherche.gouv.fr/cid20358/le-credit-d-impot-recherche-cir.html).

Ark's capability is centered around its expertise and facilities for GMP manufacturing and development of viral-based medicinal products, including gene therapies, oncolytic viruses and viral-based vaccines.

Ark's CEO, Dr David Venables, commented "this announcement recognises that Ark's viral services are underpinned by cutting-edge scientific research. The tax credit scheme gives biotech companies in France significant financial assistance for utilisation of Ark's specialist bio-manufacturing and related viral development services."

For further information:

Notes to Editors

About Ark Therapeutics Group plc

Ark Therapeutics Group plc is a leading viral product focused contract development and manufacturing services company with world-class viral research, development and GMP manufacturing operations in Finland and the UK. Ark's business model is to offer product development and GMP manufacturing contract services for viral products, including the areas of viral mediated gene therapy, oncolytic viral vaccines, live and attenuated viral vaccines, viral vectored vaccines and virus like particles. Ark's capabilities span from translational research through preclinical and clinical product development, in addition to process and analytical development, GMP manufacture and sterile filling from pre-clinical through to commercial product supply. These capabilities have been established through the development of Ark's own products through to Marketing Authorisation Application registered with the European Medicines Agency. Following a change in business strategy in 2011, Ark is now building its business through contract development and manufacturing services and is seeking external partners to advance those products it previously had under development. 

Ark's shares were first listed on the London Stock Exchange in March 2004 (AKT.L).

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.