Ark Therapeutics ‘committed to future business growth’

Ark Therapeutics has stated that it will be looking to continue building on its corporate strengths despite recent setbacks with its Cerepro brain cancer drug.

The company has published its annual review for 2009, during which the firm was able to achieve a number of positive progress markers, such as a 70 per cent increase in woundcare revenues and the establishment of its adenoviral gene delivery platform.

Dr Nigel Parker, chief executive officer of Ark, said the development of this platform has allowed the company to reinforce its strengths, outlining plans to develop its product portfolio along these lines.

He expressed disappointment at the “outstanding clinical issues” which prevented Cerepro from receiving approval from the European Medicines Agency, but stated that the firm will be “considering [its] next steps” with the drug.

Dr Parker added: “Ark will continue to look to create value from its complete range of business assets and we will maintain our focus on cash utilisation as we progress the business in 2010.”

Last month, the healthcare firm agreed a preferred supplier deal with Merck Sharpe and Dohme which will see it manufacture gene-based medicinal products on the latter company’s behalf.