Ark Therapeutics raises #14.5 million

Investee Company – Ark Therapeutics Ltd (UK)

Investee Company Business Type – European biotechnology company

Type of Financing – Development capital

Equity Providers – BankInvest, Merlin Biosciences, Nomura International, Biofund, and TVM

Equity Leader (Individual) – Professor Jesper Zeuthen, managing director BankInvest

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £14.5 million (euro22.96 million)

Total Deal Value – £14.5 million (euro22.96 million)

Other Advisors – Financial Dynamics

Comments – Ark Therapeutics Ltd is a European biotechnology company focused on the development of therapeutics for vascular diseases and cancer. The company has five products that are in clinical development derived from the company’s medical expertise in medicinal gene science.

This is the third time the company has received funding from groups of investors. Following the company’s inception in 1997 it received £3 million (euor4.7 million) to fund its start up. In April 2000 the company received £15 million (euro23.75 million) in a European private equity placement. This latest round of funding has seen original investors team up with new ones to enable the company to increase its cash reserves to £25 million (euro39.5 million.)

Dr Nigel Parker, CEO Ark Therapeutics, said: “The confidence shown by existing investors and the strong take up from the specific group of new investors we approached is very encouraging. Our increased cash reserves will allow us to execute our plan to take the later stage programmes through final clinical development.”

Professor Zeuthen, BankInvest, said: “We are proud to invest in a European company with such a strong eminently practical approach to medicinal gene science.”