Eurogene merging with Oy Quattrogene

The UK's Eurogene has acquired the gene therapy company, OyQuattrogene, based in Kuopio, Finland, to create a new entity, Ark Therapeutics. The firms' management described the deal as being "as near to a perfect fit as you can get," adding that it makes Ark one of "the most experienced and advanced gene-based medicine companies in Europe." Ark has four products in clinical development, and focuses on vascular and circulatory system-related diseases, as well as cancer. The company will be headquartered in London.

Ready to exploit post-genome era

Nigel Parker, Eurogene's chief executive (he will hold the same post in Ark), said that the merger will create significant value for shareholders and critical mass in the area of gene-based therapeutics. He added that with the experience of nine human gene therapy trials, Ark has "the clinical expertise, scientific knowledge and resources to exploit this post-genome era," concluding that the firm "is a major force in the business of turning genes into medicine."