Ark Therapeutics research consortium wins EU grant

Ark Therapeutics has welcomed news that a new biotechnology research consortium it is heading will be awarded a 5.3 million euro (4.7 million pounds) grant.

The European Commission is in the closing stages of approving the EU Framework Programme 7 Grant to the Ark-led group, which also includes Magnus Inventions, QualiMed and a number of collaborators from academia.

Research will focus on innovations in the coronary stent area over a four-year period, utilising Ark's adenoviral-delivered gene therapeutics and a pro-healing/regenerative stent.

The aim will be the creation of a stent that degrades predictably over time, leaving behind a wholly biologically healed artery via native tissue regeneration.

Martyn Williams, chief executive of Ark, said: "We welcome the opportunity to collaborate with so many respected institutions and look forward to contributing to such an important disease area."

Earlier this month, the firm received a grant from the Finnish Funding Agency for Technology and Innovation to develop new lentiviral vector production technology using baculoviruses.