RNS: Final Results22 Apr 2021 08:10
Thu, 22nd Apr 2021 07:00
RNS Number : 2769W
Avacta Group PLC
22 April 2021
THE INFORMATION COMMUNICATED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
22 April 2021
Avacta Group plc
("Avacta", the "Group" or the "Company")
Preliminary Results for the year ending 31 December 2020
Significant progress in Diagnostics and Therapeutics Divisions
Avacta Group plc (AIM: AVCT), the developer of diagnostics and innovative cancer therapies based on its proprietary Affimer® and pre|CISION™ platforms, is pleased to announce its preliminary results for the year ending 31 December 2020.
Operating highlights
Operating highlights - Diagnostics
· Rapid generation of a range of Affimer® reagents that bind the SARS-CoV-2 coronavirus spike antigen for diagnostic testing applications.
· Collaboration with several partners to develop a rapid test for the COVID-19 infection for mass population screening.
· Appointed BBI Solutions, part of BBI Group ('BBI'), and Abingdon Health to manufacture the saliva-based rapid SARS-CoV-2 antigen test.
· Entered a collaboration with the Liverpool School of Tropical Medicine ('LSTM') to provide analytical and clinical validation of the rapid coronavirus antigen test.
· Announced launch of an ELISA laboratory test for the SARS-CoV-2 spike protein to support global research efforts into the coronavirus that causes COVID-19.
· Collaboration with Adeptrix (Beverly, MA, USA) to develop a high throughput Affimer-based SARS-CoV-2 antigen bead-assisted mass spectrometry test ('BAMSTM' test) to be used on hospitals' existing installed base of mass spectrometers to diagnose COVID-19 infection. Initiated clinical evaluation of BAMS™ SARS-CoV-2 antigen test at a UK NHS hospital site.
· Exclusive distribution agreement announced with Medusa19 Limited ('Medusa19') for direct-to-consumer sales of a rapid antigen self-test for Covid-19.
· Major licensing agreement with Astrea Bioseparations Limited ('Astrea') for the use of the Affimer® platform in affinity purification applications.
· Successfully passed first audit by the Group's Notified Body (BSI Group) of the Company's Quality Management System as first step in establishing ISO13485 accreditation, a critical quality assurance system for a developer and legal manufacturer of diagnostic products and medical devices. The final audit will take place in April 2021.
· Strengthened and expanded diagnostics management team with the appointment of a Product Manager, Head of Product Development and Operations Director.
Post-period highlights - Diagnostics
· AffiDX® SARS-CoV-2 Antigen Lateral Flow Test shows excellent analytical sensitivity of 50 pg/ml of S1 spike protein with a read time of