UCL spin-out company Ark Therapeutics floated on Stock Exchange

The healthcare group Ark Therapeutics Ltd, a UCL spin-out company, has today been floated on the London Stock Exchange.

The company was founded by Professor John Martin in UCL's Department of Medicine, and specialises in developing products targeted at vascular disease and cancer.

The value of the company on the Stock Exchange today is approximately £170 million, and its flotation is the first of a biotech company in Europe for two years.

Professor Martin said: "I hope the flotation of Ark Therapeutics on the London Stock Exchange as a public company will encourage other academics to examine what intellectual property they can generate from their research. I had the initial idea in 1997, and now, under seven years later, we have a public company with five products in clinical trials. Founding a biotech company can bring reward to the university and bring about benefit to society. It is fulfilling to see your research ideas go all the way to clinical application."

Jeff Skinner, Commercial Director of UCL Business, said: "The IPO market has been closed for so long that this has seriously affected university spin-out activity. I'm delighted that Ark Therapeutics has floated successfully - it's a great company and its success will help to restore confidence in the entire sector."

Notes for Editors

1. Further details of Ark Therapeutics Ltd and of the flotation can be found at http://www.arktherapeutics.com/.

2. For further information, contact Dominique Fourniol in the UCL media relations office on 0207 679 9728.