Ark Therapeutics announced today that it has withdrawn its Marketing Authorisation Application (MAA) in Europe for its brain cancer treatment Cerepro.

The news comes after the European Medicines Agency’s Scientific Advisory Group on Oncology (SAG-O) advised that a further clinical trial would need to be conducted before approval. Although the decision is not entirely surprising given the initial negative feedback in December, Chief Exec Nigel Parker commented that he was “naturally disappointed” at the news.

As a result of this decision on its pivotal asset, Ark is now undergoing a major strategic review and considering a potential sale of the company. It is now deemed to be in an Offer Period as defined by the UK Takeover Code.

Ref: Ark Therapeutics
http://investors.ark...ansform=newsitem_new

Ref: Biospace
http://www.biospace....p;Source=TopBreaking

Ref: Reuters
http://www.reuters.c...dUSLDE62807U20100309

Can the drug find new life from a buyer?