Ark Therapeutics expresses satisfaction with 2011 performance to date

Ark Therapeutics has voiced its satisfaction with its business performance in the 2011 fiscal year to date.

The medical technology firm has published its interim results for the first half of the year, during which it was able to achieve a number of major milestones, such as the disposal of its woundcare business for a fee of up to 2.7 million pounds.

This move will allow the company to focus on its core assets and capabilities while deploying its resources more effectively, an approach that chief executive officer Martyn Williams said is already delivering results.

Other key accomplishments include the recent appointment of a new chief financial officer and non-executive director, as well as the triggering of a milestone payment from Boehringer Ingelheim after Ark was granted patents for its renin-angiotensin system.

It was also announced last month that a biotechnology research consortium led by Ark has been awarded a grant to develop a new type of coronary stent that degrades over time.

Mr Williams said: "We are pleased to report on a period of real progress in the company, during which we have not deviated from our previously expressed mantra – focus, realism and results."