Ark Therapeutics to restructure business for greater efficiency

Ark Therapeutics has outlined plans to restructure its business operations and development strategy in order to maximise its efficiency and profitability.

The wide-ranging initiatives will see the medical technology firm seek to focus its research on areas such as its Neuropilin-1 and Foetal Growth Restriction programmes, as well as its VEGF-D project for angina and peripheral vascular disease treatment.

As a result of this new focus for its internal research and development units, the company will now be seeking development partners or licensees for products such as Trinam and Cerepro.

Other changes outlined by the company include the appointment of Iain Ross as its new executive chairman, as well as an upscaling of its facilities in Kuopio, Finland.

Martyn Williams, chief executive officer of Ark, said: "We believe this restructuring will enable Ark to maximise the value from our core strengths while significantly reducing the risk profile of the business."

Last month, the company published its financial report for the first six months of 2010, reporting a double-digit growth in revenue compared to the same period of 2009.