Ark Therapeutics Ltd.
This article was originally published in Start Up
The founders of MediGene AG and Eurogene Ltd. have formed Ark Therapeutics to combat cardiovascular diseases such as de novo stenosis through the delivery of VEGF by gene therapy. The new company possesses the pieces that it hopes will allow it to go from identifying genes to producing medicines; functional genomics, gene vector and animal research capabilities, biology, chemistry, gene delivery development and clinical expertise.
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Since its IPO in March 2004, Ark Therapeutics has been watched closely, as the first European biotech to float in nearly three years. Critics point to a lack of strategic focus, claiming the broad collection of products in the firm's portfolio, including a device, drugs and even a diagnostic, will be difficult to exploit in a small company with limited resources. Yet diversity apparently proved an attractive feature-particularly to generalist investors who see the company as a spread risk bet on biotech. It has also allowed Ark to hide the far higher risk associated with individual follow-up programs, where most of the firm's value lies, behind a sure-bet marketed product.
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