TechMARK movers: Ark seeks partners

5th May 2010 15:03

Cancer treatments developer Ark Therapeutics has completed its strategic review and this has been received positively by the market. Ark intends to change its strategy to selective partnering of drug programmes. That should help Ark to preserve cash until the second half of 2011. Ark has replaced its chief executive Nigel Parker with finance director Martyn Williams. Ark is looking for a partner to finance the development of brain cancer treatment Cerepro. The trials that have been requested by the European regulator could take four years. Ark expects results from a Phase IIb trial for Trinam, a treatment to prevent the blocking of blood vessels after surgery, to be published in mid 2011 and following this it will seek a partner. Other drugs may also be suitable for partnering. Ark is assessing what to do with its manufacturing site in Finland. It may take on more contract manufacturing. Ark plans to sell its woundcare business. Ark does not believe that the bid approaches it has received fully value the business. Shares in gene therapy company Oxford Biomedica have been boosted by an increase in the shareholding of Cubana Investments. Cubana has bought additional shares to take its stake in Oxford Biomedica to 9.01%. Cubana is an investment company with operations in Hong Kong and Singapore. Cubana has invested in health and mining companies, including AIM-quoted Bezant Resources where it invested £1.8m earlier this year. FTSE TechMARK - RisersArk Therapeutics (AKT) 10.50p +7.69%RM Group (RM.) 175.00p +6.06%CSR (CSR) 438.70p +4.45%Renishaw (RSW) 677.50p +3.28%Oxford Biomedica (OXB) 9.70p +3.19%Consort Medical (CSRT) 373.00p +2.19%Renovo Group (RNVO) 24.50p +2.08%Ricardo Group (RCDO) 305.00p +1.67%Psion (PON) 81.00p +1.25%Optos (OPTS) 128.00p +0.79%FTSE TechMARK - FallersAEA Technology (AAT) 21.00p -9.68%Trafficmaster (TFC) 42.00p -6.67%Skyepharma (SKP) 43.00p -6.52%Sepura (SEPU) 42.50p -5.56%Xaar (XAR) 120.00p -5.33%Antisoma (ASM) 6.60p -4.35%Sinclair Pharma (SPH) 30.50p -3.94%BATM Advanced (BVC) 38.00p -3.80%Corin Group (CRG) 64.00p -3.76%Vectura Group (VEC) 35.00p -3.45%