TIDMAKT

RNS Number : 9960W

Ark Therapeutics Group PLC

08 February 2012

ARK THERAPEUTICS GROUP PLC

Notice of Allowance of US patent for Neuropilin-1 receptor ("NRP-1") small molecule antagonists

London - 8 February 2012, London, UK: Ark Therapeutics Group plc ("Ark" or the "Company") announces that the United States Patent and Trademark Office ("USPTO") has issued a Notice of Allowance in respect of a patent covering the structures of candidate compounds in Ark's Neuropilin-1 receptor ("NRP-1") small molecule antagonist programme. Formal grant of this patent is expected in two months.

Ark has developed the first drug-like small molecule antagonists of VEGF binding to NRP-1 which, in pre-clinical in vivo studies, show inhibition of both tumour growth and the development of the tumour blood supply (anti-angiogenic) as well as directly impairing tumour cell growth and migration. The novel chemistry is supported by structure-aided design utilizing x-ray crystallography. These efforts are continuing to optimize the compounds directed towards this emerging target for therapeutic exploitation.

Martyn Williams, Chief Executive of Ark commented: "We are pleased to report the further strengthening of the patent protection that Ark's unique NRP-1 antagonist programmes enjoys. Partnering discussions for further development of this programme continue with companies that wish to boost their early development oncology pipelines."

John Martin, Chief Scientific Officer of Ark commented: "This exciting programme will hopefully generate an entirely new class of small molecule anti-cancer therapeutics with activity across all solid tumours and in so doing provide cancer sufferers with a powerful new weapon against this terrible disease."

For further information please contact:

 
   Ark Therapeutics Group plc     Tel: + 44 (0)20 7388 7722 
   Martyn Williams, CEO 
   Iain Ross, Chairman 
 
   FTI Consulting                 Tel: +44 (0)20 7831 3113 
   Ben Atwell 
   Susan Quigley

Ark Therapeutics Group plc

Ark Therapeutics Group plc is a specialist healthcare group (the "Group") addressing high value areas of unmet medical need within vascular disease and cancer. These are large and growing markets, where opportunities exist for effective new products to generate significant revenues.

Ark has an early stage pipeline emanating from collaborations with University College, London and the AI Virtanen Institute in Kuopio, Finland, the development of which it intends to progress in collaboration with pharmaceutical and biotech partners.

In addition Ark has the ability to off-set a proportion of its R&D costs and to generate sustainable revenues through the exploitation of its proprietary technology platform, process development, scale-up and manufacturing capabilities on behalf of third parties.

Ark has its origins in businesses established in the mid-1990s by Professor John Martin and Mr Stephen Barker of University College London and Professor Seppo Yla-Herttuala of the AI Virtanen Institute at the University of Kuopio, Finland, all of whom remain consultants on the Company's research and development programmes.

Ark's shares were first listed on the London Stock Exchange in March 2004 (AKT.L).

This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Group's products and services), and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. Among the important factors that could cause the Group's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to Ark's funding requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.

This information is provided by RNS

The company news service from the London Stock Exchange

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