It's not actually news. If you follow Avacta on face book, you get all this kind of info a little earlier. I don't think the sp will go anywhere until there have been some serious sales of Affimers, which I think will only happen when the Cambridge facility is up and running. I do believe that AVCT has yet to make a profit.
... is still well under the radar which might not be such a bad thing. I would dearly like the sp to stay where it is until April 2016 where we can load up our ISAs with more chunks of dosh to make the most of what I am sure will be a multi-bagger in the not too distant future. In fact, things could work out very well with the Cambridge production facility being completed in early 2016. I don't think hat there will be a big reaction to the Oct 26th prelims, but the Feb 8th trading update may cause a bit of a stir. Certainly 2016 could see the start of some serious sp movement.
The Luminax news added to the agreement with Moderna Therapeutics of America demonstrates the potential for Affirmas worldwide.Moderna are regarded as the most exciting pharma company in the United States.
Dr Alastair Smith, Chief Executive Officer of Avacta commented: "I am delighted with the collaboration with ProtATonce and the progress that they have made in setting up the assays and evaluating Affimers on the Luminex platform. It is critical at this early stage of commercialisation of Affimer reagents that they perform well in the hands of collaborators and customers and the number of such examples are building quickly.
We're particularly excited by Affimers robust performance on the Luminex platform, the market leading multiplex assay technology, as it presents a significant commercial opportunity for Affimer-based multiplexed assays."
Dr Leonidas Alexopoulos, Chief Executive Officer of ProtATonce said: "Affimers are a great alternative to antibodies and we are excited about their initial performance on bead-based multiplex assays. In the last few months we have worked hard to develop new coupling chemistries on assay surface that take advantage of the Affimer's small size and packing density. We have successfully built a robust dual antibody/Affimer multiplex assay and we look forward to further expanding our Affimer-based multiplex portfolio."
says it all Avacta Group plc (AIM: AVCT), the global provider of proprietary diagnostic tools, consumables and reagents for life sciences, is pleased to announce that it has appointed Dr Mike Owen to the Board as a non-executive director with immediate effect.
Dr Owen was Senior Vice President and global Head of Research of the Biopharmaceuticals R&D Unit at GlaxoSmithKline and was responsible for initiating and rapidly growing GSK's robust pre-clinical and clinical therapeutic antibody pipeline during the last decade through in-house development as well as through acquisitions such as Domantis. He left GSK in 2010 to establish Kymab which is developing biotherapeutics using its novel transgenic mouse platform. Dr Owen is an immunologist by training who had a highly successful scientific career at Imperial Cancer Research during which he was elected a member of the European Molecular Biology Organisation and a fellow of the Academy of Medical Sciences.
The appointment of Dr Owen to Avacta's Board follows the recent successful raising of £22m by the Company to support the development of Affimers as biotherapeutics. Affimers are Avacta's engineered alternative to antibodies that have been developed to address many of the limitations of antibodies. Avacta is commercialising Affimers as research tools and is now investing additionally in their development as the next generation of biotherapeutic. Dr Owen brings extensive clinical trial, scientific and commercial experience to the Company in support of this strategy. He will establish and chair a Clinical Advisory Board which will provide guidance to the Affimer therapeutic development programmes.
Dr Owen is also an independent board member at Zealand Pharma and non-executive director of Ossianix Inc. and Blink Therapeutics. He sits on the scientific advisory board of Kymab and also advises the private equity CRT Pioneer Fund and HS Life Sciences.
Dr Trevor Nicholls, Chairman, commented: "I am absolutely delighted that we have been able to attract someone with Mike's credentials to our Board. His extensive experience in the field of novel biotherapeutic platforms will be invaluable as we progress development and commercialisation of Affimers as therapeutics. Additionally he brings with him considerable clinical and market knowledge as well as a broad network throughout the biopharmaceutical sector.
"We have shown that Affimers have very promising attributes as a therapeutic platform and recently signed our first significant licensing partnership with Moderna Therapeutics. It is a tremendously exciting point in the company's development of Affimers and we look forward to updating the market on the rapid progress that is being made."
Dr Mike Owen commented: "I am delighted to be joining the Board of Avacta. Affimers are a tremendously exciting prospect and I look forward to providing strategic input towards the Company's goal of generating a str
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