Member Info for B2HS2L

Paul Fry discussed by CC as a 'financial powerhouse'. - CC wouldn't make a statement like that without formulating some sort of plan with prospective CFO Paul, and perhaps Darlene.

Sure, a License would generate funds, but so would the sale of Diagnostics, or even AVA 3996.

Not saying any of these will happen, but there is I'm sure, a plan , else 'powerhouse' has no context.

Fry described as such, infers he has the background to earn that epithet, but I don't know what in his past experience he has achieved for CC to make this statement.

From - Avacta AGM 2024 - Shareholder meeting in London 27 June 2024.

CC stated:

"Darlene Deptula-Hicks.

Darlene brings deep financial expertise. She has been a CFO multiple times. She has an IPO work. She's done reverse merger. She has global financial experience and has been in multiple bio techs. Her experience on the board is going to be fantastic. I've known her now for about six months. I would love to say we've become friends. I'm a dog lover. She's a horse lover. She's absolutely fantastic and will be a great addition to the board of directors.

[00:19:08.030]-Christina Coughlin

But let me take you through because she's joining, - I would say, - a very esteemed group of directors that will be working with me as we go forward in taking care of the company. You've met Shaun, our chairman, who needs no introduction, myself. The chair of our audit committee is here with us, Paul Fry. Deep financial experience. Paul and I have known each other for quite a bit of time as we were leadership team members together at Immunocore. He's had multiple CFO experiences, and Paul, together with Darlene, is going to be an absolute financial powerhouse for us."

+++

Places Paul Fry on the short list perhaps, - no other board positions currently according to Linkedin.

"As previously announced Tony Gardiner stepped down from the Board on 26 June 2024 but will be remaining as CFO until 31st October 2024 whilst the search for a new permanent CFO is undertaken."

Tony Gardner remains CFO until 31st October 2024.

Why would an RNS state an end date of a CFO tenure, if "the search for a new permanent CFO is undertaken"? (still).

To my mind a CFO has been chosen and their start date in 01.11.2024, & pencilled in an RNS around then.

Darlene? - a possibility.

An American? why not?

If an American is chosen, I'm thinking he/she will be skilled in steering Avacta to a US exchange listing.

Viva la Evolution.

RNS 26.06.24 :

"

· Tony Gardiner has stepped down from the Board of Directors with immediate effect.

The search for a new permanent CFO is underway and Tony will remain in the post to ensure an orderly transition."

+++

CFO post vacant, search begins for replacement.

RNS today :

"As previously announced Tony Gardiner stepped down from the Board on 26 June 2024 but will be remaining as CFO until 31st October 2024 whilst the search for a new permanent CFO is undertaken."

+++

1 So CFO post not vacant then.

https://find-and-update.company-information.service.gov.uk/company/05024950/officers

Gardiner a director of many companies with Avacta in the title, mostly since 2016.

Gardiner does not vacate directorship of any of these companies in June 2024.

2 Avacta need a CFO in place for these companies for period ending 31.10.2024 to rubber stamp whatever he is asked to rubber stamp.

3 1st November likely to be the start date of the next CFO, so Coughlin has a name in the frame and a date.

🤷‍♂️

RNS 28.02.2024 - Just to review what the BoD thought the fund raising was for

"The majority of the net proceeds raised through the Firm Placing, the Direct Subscription and the Conditional Placing alongside the Company's existing cash resources will be used to initiate and progress the dose expansion and Phase 2 efficacy studies for its lead pre|CISIONTM clinical programme, AVA6000, a tumour targeted form of the chemotherapy drug doxorubicin, as well as for general working capital for the Group until the end of 2025. The dose expansions are expected to begin in H2 2024 in the USA, followed by the Phase 2 efficacy study, subject to funding and FDA approval, which the Board considers to be a major value-driving event for the Group. The dose expansions are expected to be in several orphan indications including soft tissue sarcomas and the selection of these dose expansion indications will be informed by data from the ongoing two-weekly and three-weekly dose escalation studies."

Also

"Additionally, proceeds in excess of £20 million, including any proceeds raised through the REX Offer, alongside existing cash resources may also be used for:

· completing investigational new drug ("IND") enabling studies, submitting an IND/clinical trial application and initiating a Phase 1a dose escalation study for AVA3996;

· progressing the current pre|CISIONTM and Affimer® pre-clinical pipelines."

I never thought funds would last until end of 2025 with all those projects in development.

You're making priority one a ramper check?

Do yourself a favour and start at the RNS's since April.

BV The part I'm concentrating on is this:

"GE HealthCare today announced an exclusive global licensing agreement with SOFIE Biosciences (SOFIE), a Virginia, U.S.-based company, to **develop**, manufacture and commercialize SOFIE’s Gallium-68 and Fluorine-18 labelled diagnostics targeting fibroblast activation protein (FAP)"

If Sofie have info, it would be shared with GE, and I'm sure Avacta knew about this global licensing agreement as part of due diligence before on-boarding SOFIE. 👀

Energy, - you didn't mention GE HealthCare, who presumably also have data access:

https://sofie.com/2023/10/11/sofie-and-ge-healthcare-enter-licensing-agreement-to-develop-fap-pet-radiotracers/

"Chalfont St Giles, UK – 11 October, 2023: GE HealthCare today announced an exclusive global licensing agreement with SOFIE Biosciences (SOFIE), a Virginia, U.S.-based company, to develop, manufacture and commercialize SOFIE’s Gallium-68 and Fluorine-18 labelled diagnostics targeting fibroblast activation protein (FAP). Financial terms were not disclosed....."

Yes you might be right there LL, but it's the loss of IP protection that will hurt most, and that will be for legacy product manufacturers, - the ones who have the biggest need to extend IP protection.

Avacta are good at targeting, so why not those with the biggest need, as newer more potent warheads, though possibly featured within the pipeline, will not necessarily be developed soon.

LUKE:

As CC said in the 09.04.2024 RNS:

"Antibody drug conjugates have been a key focus of oncology research given their known antitumor effects in multiple solid tumors. The proof-of-concept data presented today with AVA6000 suggest that the peptide drug conjugate drug class has several key advantages, particularly the tumor-specificity of the release of doxorubicin through targeting FAP and simplicity of the manufacturing process which results in significant savings in the cost of goods.

I think ADC developers eye's are watering when the subject of cost of manufacture arises.

The partners will perhaps be those companies with successful products that are soon to lose their IP protection.

Partner(s) perhaps.

MPOX gestation time is between 5 to 21 days.

Necessary information when considering efforts to minimise spread.

Governments are required to take measures to minimise threats to population health.

Yes Watching.

If you listed all the reasons the Pre¦cision *platform* is overall better than ADC's, then those are the reasons the ADC technology has been trumped by Pre¦cision.

The ADC star is waning whilst the Avacta platform is in the ascendency.

Plenty of BP will be trying to acquire the latest tech for themselves, (and stop other BP from benefitting).

Popcorn indeed necessary, but not just the one 5 gallon tub.

It's what I'm waiting for.

Good stuff Bella.

Also found this.

https://contactout.com/company/avid-radiopharmaceuticals-2452959

Website http://www.avidrp.com

Employees 51-200 employees

Industry Pharmaceuticals

Location 3711 Market Street, Philadelphia, PA, US

At Avid, a wholly owned subsidiary of Eli Lilly and Company, our mission is to develop new molecular imaging agents capable of changing the medical management of significant chronic human diseases. We have assembled an outstanding management team with extensive imaging and CNS development experience to help make pre-symptomatic disease detection a reality. Avid's pipeline of imaging compounds has the potential to dramatically alter the clinical course of challenging conditions such as Alzheimer's disease, Dementia with Lewy Bodies, Parkinson's disease and Diabetes Mellitus. This may be possible because our molecular imaging compounds may be able to detect the first stages of pathological change; allowing early treatment and management of people at risk - perhaps before before symptoms of disease can develop.

Also Lilly Acquires Avid 2010:

https://investor.lilly.com/news-releases/news-release-details/lilly-acquire-avid-radiopharmaceuticals

+++

Does CC know the Avid Philadelphia management?

Https://radiologyinplainenglish.com/what-is-suv-on-pet-scan/

Come across this anyone?

Once We Are Groot's and Vertizea-Sun's observations concerning Affimers that are expected to appear in the pipeline update, the value of the Affimer IP will become more and more apparent with time.

The bigger the plans for them, the more the IP should be worth IMO.

At some stage, some BP is going to take Avacta, it's platform, it's products and IP for same off the market.

Crack on with the pipeline CC, I'm sure the most will be made of Affimer products past, present and future, and shareholders will reap the benefit when IP comes to be valued.

No not way off Bella.

1 No Max Tolerated Dose identified so far in trial.

If no MTD identified at end of Arm 2 (2 week dosing), you cannot do harm by applying the maximum dose used in Arm 2.

2 ...or even start on a hugher dose if allowed by the authorities

That would mean administering a higher dose than Avacta have tested in their trial, so no.

However, this argument does support the need for further cohorts in Arm 2.

This quote needs emphasis

👀

CC "The introduction of a new diagnostic approach of [18F]FAPI-74 -PET scanning into the programme will help to better characterize the FAP expression among patients, potentially assisting in indication selection."

"We're excited to be working with our investigators to integrate these tools to accelerate our efforts to optimise indications, dosing and schedule, as we bring this promising program through clinical studies." 👀

Note the three areas of interest between between the asterisks:

RNS 23.5.24

"The sub-study through partnership with SOFIE utilising baseline [18F]FAPI-74 PET scanning in the AVA6000 Phase 1 trial has commenced and is designed to better characterise in a subset of patients the ***whole-body tumor expression of the target of the pre|CISION™ molecule and levels of fibroblast activation protein ("FAP") expression, an enzyme present in high concentrations in many solid tumors. These data will inform on various indications for further efficacy studies. *** This sub-study represents an ongoing collaboration between Avacta and SOFIE, in the use of [18F]FAPI-74 PET as a complementary diagnostic. [18F]FAPI-74 PET is currently in clinical development and for investigational use only."

Also

CC "The introduction of a new diagnostic approach of [18F]FAPI-74 -PET scanning into the programme will help to better characterize the FAP expression among patients, potentially assisting in indication selection."

"We're excited to be working with our investigators to integrate these tools to accelerate our efforts to optimise indications, dosing and schedule, as we bring this promising program through clinical studies."

++++

From

https://sofie.com/2023/10/11/sofie-and-ge-healthcare-enter-licensing-agreement-to-develop-fap-pet-radiotracers/

"Chalfont St Giles, UK – 11 October, 2023: GE HealthCare today announced an exclusive global licensing agreement with SOFIE Biosciences (SOFIE), a Virginia, U.S.-based company, to develop, manufacture and commercialize SOFIE’s Gallium-68 and Fluorine-18 labelled diagnostics targeting fibroblast activation protein (FAP). Financial terms were not disclosed. Based on this agreement, GE HealthCare will take on global rights for [68Ga]FAPI-46 and outside-US rights for [18F]FAPI-74, originally developed at Heidelberg University in Germany, and both currently in Phase II clinical trials in the U.S. ([68Ga]FAPI-46 (NCT05262855)[2] and [18F]FAPI-74 (***NCT05641896***)[3]). SOFIE will continue its clinical development and commercialization program with [18F]FAPI-74 in the U.S."

++++

From NCT05641896 - https://clinicaltrials.gov/study/NCT05641896

"Study Overview

Brief Summary

Prospective, multi-center, open label, non-randomized clinical trial to assess efficacy of [18F]FAPI-74 to detect FAP expressing cells in patients ***diagnosed with Gastrointestinal cancers***, including hepatocellular carcinoma, cholangiocarcinoma, gastric, pancreatic and colorectal cancer."

++++

SOFIE's Phase 2 study is Gastro only.

The sub-study with Avacta is whole body.

++++

Is this to give assurance where all the cancer cells are in Avacta patients prior to beginning of treatment - whole body,

and are SOFIE trying out their system for whole body not just GI.