Ark Therapeutics highlights positive trends in first half of 2012

Ark Therapeutics has published its interim report for the first six months of the year, during which it has made important progress in its transformation efforts.

During the first half of 2012, the company generated net cash outflow from operating activities of 4.6 million pounds and enjoyed early success in its strategically important manufacturing partnership with PsiOxus Therapeutics.

The firm also appointed Dr David Venables as its new chief executive officer as part of a series of changes to its leadership team, with the intended aim of moving the company towards becoming a revenue-generating viral development and manufacturing services business.

Meanwhile, subsequent to the reported six-month period, the company was also able to agree new partnerships with Merck Millipore and an unnamed European gene therapy company.

Dr Venables said: "Significant milestones have been achieved in the transition of Ark into a business focused on providing contract development and manufacturing services."

Ark operates sites in the UK and Finland and focuses its operations on vascular disease and cancer, which are two of the world's largest therapeutic markets.