Ark Therapeutics receives EUR2.19 million grant for new manufacturing facility in Finland

Largest ever grant awarded to biotechnology company by TE-Centre

07-Nov-2005

Ark Therapeutics Group plc announced that it has been awarded a grant of EUR2.19 million to support the Company's investment in a new GMP manufacturing facility (MT4) in Kuopio, Finland. The grant is from The Employment and Economic Development Centre of Finland ("TE-Centre") and is believed to be the largest awarded to the Biotech-Pharma Industry by the TE-Centre since its foundation in 2000.

Ark currently has a unique cGMP facility in Kuopio which is currently being prepared for commercial-scale manufacture of CereproTM (gene-based medicine for treatment of brain cancer). The new MT4 facility will significantly increase Ark's manufacturing capacity and scope in the gene-based medicines where the Company is one of the world's leaders. The expanded capabilities will allow Ark to produce commercial-scale cGMP medicines for CereproTM and its other lead gene-based medicine Trinam® (haemodialysis access graft surgery), and also to manufacture trials supplies for its earlier pipeline opportunities as they move from preclinical into Phase I human trials in compliance with the new 2005 European pharmaceutical legislation.

Work on MT4 has already commenced and the Company expects it to be operational for validation to commence towards the end of 2007. The TE-Centre has a successful track record in promoting the development of key sectors in Finland, working with the European Union, which will contribute 50% of the grant awarded to Ark from the European Regional Development Fund.

https://www.bionity.com/en/news/50012/ark-therapeutics-receives-eur2-19-million-grant-for-new-manufacturing-facility-in-finland.html