Ashursts takes on financing work for Ark

Ashurst Morris Crisp has acted for biotech company Ark Therapeutics on a £14.4m secondary equity financing.
The share issue valued Ark at £62m. Funds were subscribed by financial institutions that included Nomura International, Merlin, BankInvest, Gartmore and Northern Ventures.
Ashursts head of life sciences and IT Mark Lubbock led the team for Ashursts, and Ashursts lawyer David Arnold acted for Gartmore. KLegal partner Patrick Martin advised Merlin, Simmons & Simmons partner Mark Curtis acted for Nomura and BankInvest and Dickinson Dees partner Chris Harker acted for Northern Ventures.
Ashursts advised Ark last year when it raised £15m equity financing, the largest private fundraising in the sector. Nick Plummer, corporate lawyer at Ashursts, said: “I think £14.4m is impressive, especially considering that they raised so much last year.”