Avacta Group Share News (AVCT)

AIM-listed pharmaceuticals company Avacta Group announced it has signed a collaboration deal with proteins provider UbiQ Bio to build up its chain of ubiquitin Affimers.The group will be providing Avacta with small proteins found in humans and animals to further the firm's development of Affimers which act in a similar manner to antibodies. The group anticipates making them available as part of an on-line catalogue which is expected to be released this summer.The company is currently building up Affimers for the study of ubiquitylation which is thought to be involved in most human diseases. The healthcare firm said it has generated its first Affimer that binds specifically to an ubiquitin chain target in only a few weeks.Chief Executive Alastair Smith said: "As a result of the recent financing and this collaboration with UbiQ, we now have the technology and resource and access to ubiquitin chains to create large libraries of ubiquitin specific Affimers."I expect to see a strong collaboration develop in this area with UbiQ and for us to grow a flagship catalogue of Affimers to serve this important application in the study of ubiquitylation".As of 09:26, Avacta's share price was unchanged at 1.10p.WS