PVG.L Regulatory News (PVG)

15 Jan 2007 12:45

Ark Therapeutics Group PLC15 January 2007 Ark's Kerraboot(R) awarded Frost & Sullivan's 2006 European Product Innovation Of The Year Award Analyst R&D Day in Finland to be held on Tuesday, 16 January 2007 15 January, 2007 - Ark Therapeutics plc ("Ark") today announces that Frost &Sullivan has awarded the 2006 European Product Innovation of the Year Award inthe field of Wound Closure to Ark for its efforts in the development andintroduction of the novel Kerraboot(R) product. The dual-action Kerraboot(R)helps accelerate chronic wound healing, particularly in the lower limbs. The Frost & Sullivan Award for Product Innovation is presented each year to thecompanies that have demonstrated excellence in new products and technologieswithin their sector. To choose a recipient of this award, the analyst teamtracks all new product launches, R&D spending, products in development, and newproduct features and modifications. This is accomplished through interviews withall the market participants, and extensive secondary and technology research.All new product launches and new products in development in each company arecompared and evaluated based on the degree of innovation and customersatisfaction. Companies are then ranked by the number of new product launchesand new products in development. There are many factors that influence wound healing such as patient immuneresponse, nutritional status, co-morbidities and other infections. However, manyresearchers also believe that chronic wounds do not heal well because of thepresence of matrix metalloproteases (MMP) in exudate, which inhibit cellproliferation and delay healing. This inhibitory effect is attributed to eitheran over-expression of MMP inhibitors or to the insufficient production of MMPinhibitors. Given the role of exudate in wound healing, Ark designed a product - Kerraboot(R) - that facilitates drainage and isolation of exudates from the wound bed.Additionally, Kerraboot(R) also helps provide a warm, moist, optimum healingenvironment around specific wound sites, as may be found in lower limbs. Thewarmth and humidity provided by Kerraboot(R) helps to increase blood flow to theulcer or diseased area and accelerate wound healing. For any wound closuretherapy to be effective, it should be easy and quick to apply. In this regard,Kerraboot(R) has an average dressing time of just five minutes (range: 2 to 20)which is half the average time taken to change standard dressings. It featureseasy application so patients are able to change their dressings without helpfrom nurses. The design of Kerraboot(R) incorporates super absorbent material around thefoot, which easily absorbs the exudate from the wound. The dressing needs to bereplaced only when exudate starts seeping into the boots. Due to its woundhealing characteristics, Kerraboot(R) could be particularly useful for treatingdiabetic foot ulcers and other lower limb ulcer conditions. Case studies haveshown that Kerraboot(R) has helped to reduce the incidence of amputation. Kerraboot(R) has obtained European CE Mark regulatory approval and is listed foruse in the US by the FDA. The product has been launched in the UK andinternational commercialisation is now under way, including in the US, China andSouth Korea. Ark also announces that it is to hold an R&D Day for analysts and investors atits manufacturing facility in Kuopio, Finland on Tuesday, 16 January. The sitevisit will include presentations given by senior managers and directors. Therewill be no discussion about current or future trading or financial performance. Paul Higham, Director of Commercial Development at Ark commented: "We are delighted to have received this award. Frost & Sullivan is a wellrespected organisation which has independently recognised the innovative natureof Kerraboot(R) and the contribution it can make to patients with lower limbwounds. UK and international trials to date have demonstrated the clinicalbenefits and cost-effectiveness of this novel product, which is a significantadvance in the way lower limb ulcers are treated. Introducing new types ofmedical treatment takes time and energy to gain widespread acceptance and usage.We are making good progress in the UK with Primary Care Trusts (PCTs) andsteadily gaining formulary inclusions. We are also optimistic that Kerraboot(R)will gain acceptance in other international markets where the healthcare systemsalready recognise and reward products that demonstrate cost benefit as well asclinical success." For further information: Ark Therapeutics Group plc Tel: + 44 (0)20 7388 7722Dr Nigel Parker, CEOMartyn Williams, CFO Financial Dynamics Tel: +44 (0)20 7831 3113David YatesAnna Keeble 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, woundcare and cancer. These are large and growing markets, where opportunities existfor effective new products to generate significant revenues. With two marketeddevices, Kerraboot(R), and Flaminal(R), and three further lead pharmaceuticalproducts in late stage clinical development: CereproTM, VitorTM, and Trinam(R),the Group is transitioning from an R&D company to a commercial, revenuegenerating business. Ark's lead products are sourced from related but largely non-dependenttechnologies within the Group and have been selected to enable them to be takenthrough development within the Group'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. Ark has its origins in businesses established in the mid-1990s by Professor JohnMartin and Mr Stephen Barker of University College London and Professor SeppoYla-Herttuala of the AI Virtanen Institute at the University of Kuopio,Finland, all of whom play leading roles in the Company's research anddevelopment 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 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. Theseforward-looking 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, readers are cautioned not torely on any forward-looking statement. This information is provided by RNS The company news service from the London Stock Exchange