The sale of Optim was on the cards when we visited the company some time ago, so no surprises there. It will however facilitate the acceleration of the commercialization of the Affirmers which is great news for us shareholders. Onwards and upwards.
Seems to be a head of steam building around the Affirmers with a few ties ups announced over the last few months. Shows that other pharma companies think the Affirmers have promise. Just need to see this translate into revenue. Fingers crossed.
Yes, great announcement this morning, but once again there's an "if" and no timescale, however this is still building nicely and as per usual I don't expect much movement in the sp, although how nice it would be to be proved wrong!
Partnership to develop Affimer assays for the market leading multiplex platform
Avacta Group plc (AIM: AVCT), the global provider of proprietary diagnostic tools, consumables and reagents for human and animal healthcare announces that it has entered into a commercial partnership with ProtATonce, an approved Luminex partner, to develop and commercialise high performance multiplexed assays for the Luminex platform using Affimers.
ProtATonce is one of a number of exclusive Luminex partners selected to develop and commercialise multiplexed assays on the market leading Luminex xMAPTM platform which enables large numbers of biological tests to be conducted and analysed quickly using bead based assay kits. The bead based assay market is worth $270m and around half of these assays are run using Luminex assay kits. ProtATonce specializes in developing high quality assays with high degrees of multiplexing to support the pharmaceutical industry in drug discovery, mode of action analysis and drug repositioning.
The Luminex technology itself is powerful and capable of carrying out up to 500 tests in one experiment, but this high level of multiplexing is only possible if the antibodies that are used in the test kits are specific and show no cross reactivity between tests. However, the cross reactivity of antibodies practically limits the degree of multiplexing of the Luminex technology to around 50 tests.
Under the terms of the agreement Avacta will provide Affimers to ProtATonce who will develop Affimer based assays that take advantage of the engineered specificity of Affimers to unlock the high multiplexing potential of the Luminex platform. The aim is for ProtATonce to develop assay kits with market leading, disruptive levels of multiplexing and commercialise these through larger commercial partners. Avacta will be entitled to a 50% share of future revenues derived from the Affimer based Luminex test kits with an agreed minimum annual sales level.
Dr Alastair Smith, Group Chief Executive commented: "The Luminex platform is the market leading bead based multiplexed assay platform and the potential of Affimers to overcome the problems of antibody cross reactivity which limit the overall performance of the technology is very exciting.
ProtATonce has an excellent reputation for developing high quality, highly multiplexed assays and they are an excellent partner for us to work with to establish Affimers in the Luminex assay market. Indeed, all multiplexed assay platforms are ultimately limited by the specificity of the affinity reagents and therefore proving Affimers on the Luminex platform will open up the wider multiplexed assay market.
I have no doubt that if we are successful in developing Luminex assays with market leading degrees of multiplexing then these products will become very attractive to a number of larger commercial partners in this market.&quo
I think that if Avacta had to rely on Optim 2 and Sensitest, I may well have abandon ship, or at least reduced my holding, a while ago, but the Affimers are a whole new ballgame. This is a serious product.
Glad to see both Wisheyedbortum and Sukithedog still very much on board. The return of intelligent discourse and talk of profitability, maybe in 2017. I still see Avacta as an excellent medium to long term hold, hoping for greater things to come. Strictly tongue in cheek, in recent months I have smiled at the light-hearted barrow boy talk about the abandonment of Porsches which have run out of fuel. Is this Canary Wharf talk? Such wags, perhaps it brings light relief for those unfortunate enough to have £500K plus mortgages in Islington, a stone's throw away from squalor.
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