Ark in successful IPO

Ark Therapeutics has successfully completed its Initial Public Offering (IPO) in connection with its listing on the London Stock Exchange.

The offering raised £55m, giving the company a market capitalisation on listing of approximately £168m.

Commenting on the announcement, Nigel Parker, chief executive of Ark, said: 'We are delighted to have successfully completed our IPO, the first in our sector on the UK main market for a number of years. The funds raised will place Ark in a strong position to take its late stage product portfolio through to commercial launch. We look forward with confidence to our future as a quoted company.'

Ark is an emerging healthcare group with one product introduced into hospitals and three further lead products in late stage clinical development. Capitalising on over ten years of research in vascular biology and gene-based medicine, it has created a portfolio of proprietary healthcare products targeted at specific unmet clinical needs within vascular disease and cancer. Its four lead products, each of which has originated from the research work of Ark's scientific and clinical teams based in Finland and the UK, are shown in table 1.