Member Info for B2HS2L

TNBC phase 1b results not expected until early 2026, but BP in the data room will see results as they arrive.

'We believe the critical data for partnering is evidence that FAP-Dox (AVA6000) has the expected clinical effect in breast cancer'

Assuming that is still the case, and BP think a good TNBC phase1b result will trigger a partnering RNS.

I would expect that situation to trigger a buyout via FOMO from a few BP.

AVA6103 also scheduled to start Q126.

Interested in others PoV.

So what does the above tell us...

Bond Payments are now covered/deferred through July 2026 based on Avacta securing £13m prior to 15 Jan.

For me - a deal is now awaited securing £13m (absolute minimum) prior to 15 Jan.

Nature of the deal to be notified, as PL expected a partnership on 13 March:

'Avacta has already begun discussions with a range of potential partners for FAP-Dox (AVA6000).

We believe the critical data for partnering is evidence FAP-Dox (AVA6000) has the expected clinical effect in breast cancer patients as this reduces risk in the larger market.'

13th March was 6 months ago - and BP knows how to present deals in many attractive ways.

Avacta likely still negotiating, but probably not so interested in some discussions.

I made an email application for an introductory offer to Panmure Liberum.

They responded by providing the broker note.

For Info

I subsequently rescinded the agreement as from memory, there was a quarterly or monthly subscription cost.

Bella - Not necessarily with 20-30 patients on TNBC phase 1b.

No phase 1a trial was completed for TNBC.

Panmure Liberum - 13.03.2025

Avacta Group* - Initiation

pre|CISION strategy Page 23

FAP-Dox development plan

FAP-Dox has completed the Phase 1a dose escalation stage of the study and

is now in the Phase 1b dose expansion phase. The expansion phase uses a

three-weekly dosing schedule, although the chosen dose has yet to be

released. The expansion phase consists of three cohorts, enrolling salivary

gland cancer, triple-negative breast cancer and dedifferentiated liposarcoma

patients, with each cohort expected to recruit 20-30 patients. However, due to

a desire for increased focus and funding constraints, we expect the latter to

recruit only slowly. Screening for the triple-negative breast cancer cohort has

now begun.

Page 25 -

Avacta has already begun discussions with a range of potential partners for

FAP-Dox (AVA6000). We believe the critical data for partnering is evidence

that FAP-Dox (AVA6000) has the expected clinical effect in breast cancer

patients as this reduces risk in the larger market.

B2HS2L

Posted in: AVCT

Posts: 5,605

Price: 30.00

No Opinion

RE: All going to plan.3 Jul 2025 10:12

Https://www.trinitydelta.org/research-notes/beneath-the-tip-of-the-precision-iceberg/

Beneath the tip of the pre|CISION iceberg Update 26 June 2025

"Clinical development in TNBC slightly lags SGC, due to a requirement for cardiac safety data ahead of enrolling this cohort"

However the reference continues -

"Clinical development in TNBC slightly lags SGC, due to a requirement for cardiac safety data ahead of enrolling this cohort plus industry-wide headwinds created by budget cuts at academic institutions impacting clinical trial support funding. Nevertheless, timelines are now back on track..."

+++

The cardiac safety data requirement would not take a long time to complete IMO.

Phase 1b update on TNBC will be available to BP in the data room way before shareholders.

Stellar progress with this trial is IMO likely to be the sort of news which will see the first bid, and subsequent domino effect bids for Avacta.

02.07.2025 - Shaun Chilton:

"We are also delighted to see initial signs of efficacy in both phase 1b indications".... (- implying TNBC & SGC)...

"...we remain confident the market’s attention will soon return to the excellent progress pre|CISION continues to make in the clinic."

Hughes IMO is too busy to be a chairman for any company.

He founded Zeus Capital and appointed a chairman for that.

Look how desperate the 3 Amigo's are to engage with anyone about anything.

Look how many question marks there are within their posts.

They can't wait for new posters to appear here, so they can trot out once more what we've heard ad-infinitum.

If they didn't have an agenda, they wouldn't have been posting here for years.

For time managements sake, if for no other reason don't engage.

Thorndrum - I'll post this each and every time you to promote your bull*hit agenda in future.

Question and Answer session of the Investor Meet presentation – transmitted 06.06.2025

Q8 The strategy for FAP-dox appears to be changing. We don’t hear updates on the Sarcoma arm anymore. Is this changing and why?

A8 CC - We have placed three bets on the table with our expansion cohorts. We’ve described their design and the dose in the presentations. Those three bets are Salivary Gland Cancer, Triple Negative breast cancer and Soft Tissue Sarcoma.

There are two things that happened late in 2024, outside and inside Avacta that essentially define the strategy.

We have to be very in tune to anything that happens out there in the public domain in oncology and how it impacts our programs.

And that’s the first thing that I’ll describe is, the indication of soft tissue sarcoma did take, - I’ll call it a regulatory influence - that happened, in that there was a data set that was published late 2024 with the Beringer Ingleheim MDM2 inhibitor in Dedifferentiated Lipo Sarcoma.

It was a randomised phase three trial that failed to meet it’s primary endpoint.

The comparator arm in that trial (important to note), was monotherapy doxorubicin and the progression free survival there was over eight months.

That is an important development because it is much better than anyone anticipated.

The regulatory bar then, in that indication is elevated, and our probability of regulatory success drops when we see this because that will be the comparator for AVA6000 for FAP-dox.

Now, at the same time we started to see some really nice activity in a rare tumour type – Salivary Gland Cancer, and investigators that we’re working with us on that, continued to beat the drum stating ‘This drug seems to really be working in this rare tumour type, and the unmet need here is huge’.

I’ve mentioned before that if you open up the NCCN guidelines which drive the therapies which are administered in a given setting in the US, the preferred regimen for this tumour type is none. There isn’t one.

That’s regulatory speak for we would be able to use something called an investigator choice arm.

We wouldn’t have to necessarily compare to Doxorubicin alone.

Doxorubicin alone isn’t actually used.

It’s both of those external factors with the data in doxorubicin in soft tissue sarcoma, but also our own data and salivary gland cancer that, yes we will always adapt to both external data but also things that we are seeing.

Our probability of success we think with salivary gland cancer is just much higher based on both of those factors that I mentioned.

That's why they jumped ship.

Long Term Holders have experienced blood sweat and tears on this board over a number of years.

We expect many many posters seeking info in the coming months.

That being so, we aren't in a position to help much with requests, beyond the research advice given this afternoon.

Best of luck with your studies.

Will Tap is the leader of the all sites AVA6000 phase 1b trials team in USA.

As such I would expect him to be presenting the data in Berlin, which we are lead to believe is excellent.

Shaun Chilton - AGM -

"There’s an incredible amount of interest in AVA6103, or FAP-EXd as we now call it, although the company’s strategy at this point

is to protect this asset until we have sight of the initial human data, such is its value."

6103 initial human data due?

Trial starts January.

Initial data possibly May 2026, but BP in data room get it ASAP.

When BP have early data, and all is well, that's when it gets harder to keep control of the company.

Sowell : FWIW - I find Trinity Delta reports tend to compress information.

Source: https://www.trinitydelta.org/wp-content/uploads/2025/06/Avacta-Update-250626.pdf

"Through partnerships, there is also potential to couple Avacta’s pre|CISION platform and a partner’s payload to produce new tumour-targeting PDCs and, if these also incorporate its Affimer technology, Affimer-drug conjugates.

Beyond the two disclosed pre|CISION programmes, AVA6000 and AVA6103, Avacta has FAP-enabled over ten other confidential pre|CISION molecules which are in preclinical testing and cover multiple therapeutic classes.

The most advanced of these is AVA7100, a FAP-targeted Affimer pre|CISION molecule; little has been disclosed other than the expectation that the candidate molecule will be nominated in H225, and that this programme has the potential to target tumour types with lower expression of FAP."

Sounds like a program that would be better progressed with a partner (or partners), as foreseen in CC's comment:

'This means potentially licensing the technology to a partner, working together, collaborating on the development of a new medicine.

It would be based on a partners proprietary pay load and our precision technology.

More to come here in the not too distant future'

Https://avacta.wistia.com/medias/k6j3aliioe

Slides in the AGM Business Update Presentation 02.07.2025

Slide 12 transcript, -

CC "The first challenge, - the Heights convertible bond.

Myself, Sean and the board, have inherited this bond.

It does have onerous terms. It was raised, to fund the purchase of the diagnostic businesses.

We disclosed that we have divested Launch diagnostics, and we are nearly there with the Coris business transaction.

We have actively looked at numerous options. You can see them there.

All of these options were too onerous for existing shareholders or not possible under the terms of the bond.

We do have £25.5 million of the loan outstanding, and that will take us the next two and a half years to repay.

The strength of the platform, that I've described in the last few slides really does allow us, - it's expected to provide optionality here in terms of the repayments of the Heights convertible bond.

I can tell you that this issue is foremost and front and center for the Board of Directors.

It is discussed frequently among us, and we are seeking solutions as you have seen with a number of the announcements that we have made.

In terms of our funding, we are managing our cash for the R and D pipeline. We are building IP and value.

We have realized cash from the sale of Launch. The Coris divestment is ongoing and near term. We are supported by a number of brokers.

We are broadening our relationships with a wide range of investors, including both UK and US specialists.

We have widened the BD team with the addition of Yuli Bogatyrenko, who will focus on commercial partnerships.

We do have our data catalysts coming, to attract both commercial partnerships and attracting new investors."

So the strength of the platform 'is expected to provide optionality here in terms of the repayments' - ie there was clear intent to try to renegotiate the convertible bond.

"We are broadening our relationships with a wide range of investors, including both UK and US specialists."

If the forgoing has been proven with the passing of time to be correct, I would expect broadening of our investor base is being delivered.

Assuming AVA6000 phase 1b results are excellent, - implied by successful loan rescheduling - Avacta's value will increase.

AVA6103 IND is on schedule, (we have no adverse news on that front), so this program should enter the clinic in January, and I don't see a shortage of funding will be a hinderance.

Agree 28j - investment soon from specialist healthcare investors post Coris sale announcement.

Agreed, though we'll never know for sure.

If your comment is true BV, Vinegrad should have gone months ago.

Now he's gone they should make sure he is 'incentivised' to say nothing to other parties. 🤐

Well done Bella.

Well done CC.

That's another salary saved.