PVG.L Regulatory News (PVG)

30 Apr 2009 12:00



Prestigious European R&D prize won by Ark founder

2009 InBev-Baillet Latour Health Prize awarded to Professor Seppo Ylä-Herttuala 

London, UK, 30 April 2009 - Ark Therapeutics Group plc (AKT:LSE) ("Ark" or "the Company") is pleased to announce that Professor Seppo Ylä-Herttuala, Consultant Director of Molecular Medicine at Ark, has been awarded the prestigious 2009 InBev-Baillet Latour Health Prize together with Professor Kari Alitalo of Helsinki University. The Prize, which is presented in Belgium, is awarded to scientists for outstanding contribution to biomedical research and the benefits that their research has to human health.

The 2009 Health Prize, which focused on Cardiovascular Diseases, was awarded to Professors Ylä-Herttuala and Alitalo for their groundbreaking work in relation to the Vascular Endothelial Growth Factor (VEGF) family of genes. Their research has pioneered the delivery of VEGF genes in adenovirus to the vascular system and encompasses discovery, gene cloning, manufacturing and pre-clinical studies and more recently, clinical studies in coronary heart disease and peripheral vascular disease. The majority of their research has been done at the Universities of Kuopio and Helsinki in Finland.

Previous winners of the Health Prize have included Professor Robert A Weinberg in 2008 for his research into the origins of cancer and Sir James W Black in 1979 for his contribution to the decisive finalisation on drugs against high blood pressure and other cardiovascular diseases, as well as his discoveries in relation to the treatment of peptic ulcer and other gastro-intestinal infections.

Ark has become a world leader in developing the use of adenovirally mediated VEGF genes for the treatment of cardiovascular disease. The most advanced product, Trinam® is currently in Phase III development for the prevention of blockage in haemodialysis access grafts, and four more products are in earlier stages of development for the treatment of refractory angina, peripheral vascular disease, foetal growth retardation and wound healing. Rights to develop VEGF C and D genes in the vascular and lymphatic systems were acquired by Ark in January 2008 through the acquisition of Lymphatix Oy.

Dr Nigel Parker, Chief Executive of Ark commented: "On behalf of the Board and all staff at Ark I would like to congratulate both Professor Ylä-Herttuala and Professor Alitalo on this outstanding achievement. The whole area of VEGF biology has become increasingly important and this family of genes has wide-reaching applications in medicine. The Health Prize is an independent and robust validation of what we are doing at Ark to develop breakthrough medicines based on our deep understanding of VEGF, and we look forward to announcing further progress in this area in due course."

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Notes to Editors

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, wound care and cancer. These are large and growing markets, where opportunities exist for effective new products to generate significant revenues. With five marketed devices, Kerraboot®, Kerraped®, KerraMax®, Flaminal® and Neuropad®, and three further lead pharmaceutical products in late stage clinical development: Cerepro®, Vitor™, and Trinam®, the Group is transitioning from an R&D company to a commercial, revenue generating business.

Ark's own products are sourced from related but largely non-dependent technologies within the Group and have been selected to enable them to be taken through development within the Group's own means and to benefit from Orphan Drug Status and/or Fast Track Designation, as appropriate. This strategy has allowed the Group to retain greater value and greater control of clinical development timelines, and to mitigate the risks of dependency on any one particular programme or development partner. Ark has secured patents or has patent applications pending for all its lead products in principal pharmaceutical markets. 

Ark has its origins in businesses established in the mid-1990s by Professor John Martin and Mr Stephen Barker of University College London and Professor Seppo Ylä-Herttuala of the AI Virtanen Institute at the University of Kuopio, Finland, all of whom play leading roles in the Company's research and development programmes. 

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.