Small caps round-up: Ark Therapeutics, Volex, GoIndustry

published 2 May 2012

Medical company Ark Therapeutics said a consortium led by University College London, in which the company was the sole industrial partner engaged in research, was to receive €6m from the EU. The grant would enable Ark's gene-therapy programme in foetal growth restriction to enter into clinical development, it said. Its shares rose 7.4% on the news.

Volex, a provider of electrical, digital and optical connections, said it had appointed David McKinney to the newly created position of Chief Operating Officer (COO). McKinney most recently served as COO of broadcast technology firm Pace from November 2005 to January 2012. The firm said it hoped the new hire would help drive "substantial, sustainable and profitable growth of the company".

Shares in GoIndustry-DoveBid tumbled after it released details of a takeover bid for the firm by Liquidity Services. GoIndustry said the discussions centred around an all-cash offer for its outstanding shares at a proposed price of approximately 73 pence per share. This would be one penny below Wednesday's opening price of 74p, causing investors to push the shares down to 65p following the announcement.

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Video search engine Blinkx said it had teamed up with Travel Therapy, a new travel and lifestyle video web series, to offer tips for those looking to go on sabbatical. Blinkx said the service would offer 'tips on trips they should take based on what they're going through in life, from relaxing respites, to exotic and empowering adventures'. The series is being created by Emmy award-winning journalist Karen Schaler.