Member Info for LiveLongnProsper

New ‘contacts’?

“Investor Contact, Renee Leck, THRUST Strategic Communications”

“Media Contact, Carly Scaduto, Carly Scaduto Consulting”

New words - re-worked, but ‘UK-based’ dropped. More specific mention of AffDC?

“About Avacta - www.avacta.com

Avacta Therapeutics is a clinical-stage life sciences company expanding the reach of highly potent cancer therapies with the pre|CISION® platform. pre|CISION® is a proprietary warhead delivery system based on a tumor-specific protease (fibroblast activation protein or FAP) that is designed to concentrate highly potent warheads in the tumor microenvironment while sparing normal tissues. Our innovative pipeline consists of pre|CISION® peptide drug conjugates (PDC) or Affimer® drug conjugates (AffDC) that leverage the tumor-specific release mechanism, providing unique benefits over traditional antibody drug conjugates.”

GLA

Launch form visible on Companies House now …

https://find-and-update.company-information.service.gov.uk/company/02427295/filing-history

03 Jan 2025 Resolution of varying share rights or name.

Relates to 14 Oct 2022 and is about the ‘re-designation’ of a few shares – which is 4 days before …

RNS 18 Oct 2022 Proposed acquisition of Launch Diagnostics.

Looks like housekeeping – so far?

GLA

@H4, ha yep! Thanks for correction (and I didn't mean 'archaic'!).

Cheers

Rather archain (like) form CC04 filed on 30th Dec as ‘processing’, visble on 31st.

Walker Morris working over the NY period, probably on extra fees for the timing - seems urgent then?

So what? What ‘object’ removed from the company?

Was it …

Animal Health (because Alan forgot to do it at the time)?

Launch alone?

Coris alone?

Dx in it’s entirety?

If any of the above last 3 …

Who acquired them and for how much - enough to pay off the CLN ++ please?

Have they taken any Affimer IP with them?

What about the the corporate ‘overheads’ (CCO, COO), stay or go?

Or was it some kind of ‘paper work’, ‘get things in order’ type exercise to prepare the way for …

Nasdaq listing?

Be acquired, whether in part or whole?

Other?

Answers on a postcard to the RNS department – 1st class, as needed next week sometime.

GLA

@Aldebaran, I no longer have 'a fence' either. Darragh took it from me.

Click on the pdf, which has an 'X' against '2 Company Objects removal of'.

Only speculation that it's Dx that has been 'removed'. Just hope the removal generated a lot of money.

GLA

Thanks @DaProphet and https://x.com/AndrewDigby3 ...

https://find-and-update.company-information.service.gov.uk/company/04748597/filing-history

Now updated for the ‘removal of’ an ‘object’. Presumably Dx?

GLA

In further ‘discussion’ with ChatGPT …

The recent filing on December 30, 2024, indicating an update to the company's Statement of Objects, likely relates to this strategic shift. By updating its objects clause, Avacta can realign its stated business activities to reflect its focus post-divestment [of Dx].

Potential Reasons for Updating the Objects Clause:

Alignment with Core Business: Post-divestment, Avacta may wish to redefine its primary objectives to concentrate on its therapeutics division, ensuring that its constitutional documents accurately represent its operational focus.

Facilitation of the Divestment Process: Clarifying or updating the objects clause can streamline the sale of the Diagnostics Division by delineating the scope of activities being transferred versus those retained.

Preparation for Future Initiatives: The company has also expressed interest in exploring a dual listing on NASDAQ to attract global specialist biotech investors. Updating the objects clause may be a preparatory step to align with regulatory requirements and investor expectations in different markets.

GLA

Https://find-and-update.company-information.service.gov.uk/company/04748597/filing-history

Posted today at companies house – “Statement of company's objects - This document is being processed and will be available in 10 days.”

Wonder what’s up, is this routine or otherwise?

ChatGPT says …

In the UK, a "statement of company's objects" is a section within a company's constitution (typically in the memorandum of association or articles of association) that outlines the specific purposes and activities the company is authorized to engage in. It essentially defines the scope of the company's operations and the limits of its powers.

Key Points:

Purpose:

Historically, the objects clause was critical for ensuring that companies did not operate outside their stated purposes. Any activity beyond the defined objects was considered ultra vires (beyond powers) and could be challenged legally.

Modern Relevance:

Under the Companies Act 2006, the requirement for a detailed statement of objects has been relaxed. If a company does not specify objects, it is assumed to have unrestricted objects by default, meaning it can engage in any lawful activity.

Companies can still include an objects clause if they want to limit their activities to certain areas.

Flexibility:

Existing companies that were formed before 2006 with restricted objects can amend their articles to remove or update the objects clause.

Example:

A tech startup might include in its objects:

"To design, develop, and market software solutions for enterprise clients."

A broader objects clause might simply state:

"To engage in any lawful trade or business."

Legal Impact:

While uncommon today, if a company explicitly restricts its activities and later breaches these restrictions, legal disputes can arise, particularly from shareholders or creditors.

GLA

Big role for Chris Twelves now …

”Name Chris Twelves, MD – Role Principal Investigator – Affiliation St James's University Hospital, Leeds, UK”.

Other SAB members involved in the trial (as ‘contacts’) …

Memorial Sloan Kettering Cancer Center, Dr William Tap (plus Dr Alan Ho),

Fred Hutchinson Cancer Center, Professor Lee Cranmer,

Trial ‘contacts’ not on the SAB …

The Beatson West of Scotland Cancer Centre, NHS Greater Glasgow & Clyde, Professor Jeff Evans,

The Royal Marsden, NHS Foundation Trust, Professor Udai Banerji,

The Christie NHS Foundation Trust, Dr Natalie Cook,

The Freeman Hospital, Newcastle-upon-Tyne NHS Foundation Trust, Professor Ruth Plummer.

Dr Twelves presented our poster at ESMO in Sept.

Also note the poster co-authors include - Dr’s Banerji, Tap, Cranmer, Ruth Plummer, Natalie Cook and (also a CT contact) Prof Jeff Evans.

Looks like a great deal of planning has been going on in the background resulting in significant commitment from top Oncologists at leading hospitals.

Now who are the BP ‘sponsors’ ...?

GLA

“Why join Avacta, why now, what attracted you to the company?”

“The thing that really attracted me was this platform, the pre|CISION® platform and the data that’s emerging from that. When I first saw the data that you guys have generated …”.

(Just for clarity, I don’t think she actually said ‘|’ or ‘®’).

“The data really spoke to me when I first saw it”.

Guess she has seen a lot more data now than has yet been published – and still smiling.

Michelle already has CC attributing her with new terminology – ‘micropeptide’. Love it, patent it.

GLA

Yes they certainly are.

Michelle Morrow certainly has a great CV (Imfinzi for eg) and seems ‘on cue’ re business direction.

~2:40 “… public company on Nasdaq and working with big pharma patnerships as well …”.

CC drawing out the ‘bystander effect’, Michelle right on top of it.

More mention of RLT’s (Novartis example on new slides). As I have previous noted, Novartis could really use pre|CISION® - would be like their own version of Lilly / Point CanSEEK™.

Both exuding confidence and enthusiasm.

GLA

Perhaps worth noting that MSK Dr’s William Tap and Alan Ho are on the Avacta SAB (as is Dr Lee Cranmer at Fred Hutch), so this interview from another MSK Oncologist is particularly significant.

GLA

Wow, ‘out of the blue’. Clear enthusiasm for AVA6000 and the pre|CISION® approach.

Hope this get some coverage from Avacta tomorrow.

Careful to distinguish the TME from actual cancer cells.

Goes on to discuss HER2.

Just a reminder (one example only) – Enhertu is Trastuzumab Deruxtecan from Daiichi Sankyo / AZN.

AVA6000 and AVA6103, pre|CISION® generally – absolute gold.

GLA

No CFO yet.

RNS 2 September – “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.” Expectation set that CFO would be found and appointed.

RNS 26 June – “Darlene is an entrepreneurial financial leader with proven expertise in building strategic external partnerships to achieve business results and increase shareholder value, with expertise in capital markets”. Sounds like Darlene could have (later on) done the CFO job and been instrumental in some kind of ‘deal’? But on 14 November Darlene joins Greywolf as CFO … https://www.greywolftherapeutics.com/news/greywolf-appoints-darlene-deptula-hicks-as-chief-financial-officer

CC (as reported by others) apparently suggests that a new (American) CFO has been chosen? Nothing yet.

I suppose Paul Fry could do the job, at least in the interim, but no suggestion here. Do we need a CFO, or will that need be superseded?

In the meantime, great pipeline updates, R&D day, posters, etc. – AVA6103 / Exatecan looks very exciting, AVA6000 continues to successfully progress through trials. Positioned to largely replace conventional Dox treatment for FAP expressing tumours.

Some data presented, some held back to 2025. Pivot to TNBC for 1 cohort of 3 in P1b - this is a 'big deal'. No confirmation that TNBC patients included in earlier (presumably some still continuing?) cohorts. How to fund ..?

Nice post from https://x.com/Tom_The_Bomb__ this morning ...

https://x.com/Tom_The_Bomb__/status/1867834573050073094

Nothing of note heard yet from Shaun Chilton or Simon Bennett. The former apparently to be ‘judged’ in 6 months (i.e. end Dec), and the latter 1 year of being ‘busy’.

No susbstative update on the Dx situation, offeres received and being reviewed apparently. Wide range of valuation from Peel. If and when it happens, needs to be enough to pay off the CLN and fund the co. well into 2026.

Either we are just grinding our way through the trials, communicating part of the result set, not doing very much on the commercial front, heading for more dilution, etc.?

Or, various things important to the companies future are happening behind the scenes?

GLA

ESMO poster …

“A Phase I trial of AVA6000, a Fibroblast Activation Protein (FAP)-released, tumor microenvironment (TME)-targeted doxorubicin peptide drug conjugate (PDC) in patients with FAP-positive solid tumors”.

“The patient population included the following: • Patients with a diagnosis of known FAP-positive cancers, including [note – ‘including’] sarcoma, pancreatic cancer, colorectal cancer, head and neck cancers.”

“FIGURE 2. ANALYSIS SETS – EFFICACY - Patients with: (1) known FAP higher tumor types (within the FAP+ tumor types) including soft tissue sarcoma and salivary gland cancer, (n=28) or

(2) FAP mid tumor types which have some evidence of FAP expression, including colorectal cancers, pancreatic cancers, etc. (n=29)”

No specific mention of TNBC being included, but no definitive / complete list, so possible?

This interesting post from @111BEN_111 on SpacetwiX …

https://x.com/111BEN_111/status/1867332711012028828

So, in order to commit to TNBC for P1b do we have (as yet undeclared) data on TNBC from the RDE cohort?

If I have ‘the wrong end of the stick’, please correct.

GLA

3 indications for P1b, including TNBC confirmed. Phase 1b patient screening commenced.

So, the dosing regimen is known and the p1b protocols for 3 indications are in place and, presumably, agreed (as necessary) by the FDA (and MHRA?)?

Latest data available to investors from recent posters and presentations, data cutoff as at 19 August 2024. They had more detailed data then, they now have 4 months more data. I would be very disappointed if these data were not being shared and discussed with one or several BP’s under NDA.

In the meantime no evidence, as yet, of commercial activity. On the commercial stuff …

Shaun Chilton – Clinigen and C7Health for example, time to do something for Avacta.

Simon Bennett – Chief Business Officer, in post for a year, apparently ‘busy’, time to deliver.

Darlene Deptula-Hicks – NED, finance / Nasdaq etc. experience, but just taken up new role with Greywolf.

CFO – tbc.

Please do something commercial Avacta.

GLA

Https://www.youtube.com/watch?v=5_JdImJitLA

Avacta from ~1:04.

Limited analysis in the time, but suggests Dx worth £30-40m? Should find out soon I hope.

GLA

Many possible flavours and combinations of Affimer® sandwiches to sell. No doubt good money to be made, and will certainly keep someone ‘busy’.

But pre|CISION® is the ‘plat du jour exceptionnel’ with a 3* Michelin rating and deserves the requisite care and attention in preparation, presentation and delivery to customer.

GLA

Data cutoff for all recent posters and presentations was 19 August 2024.

(For example, see the November 2024 ‘Corporate Deck’ - https://avacta.com/wp-content/uploads/2024/11/Avacta-Corporate-Deck-Nov-2024.pdf pages 18, 19, 20).

So, nearly 4 months more data collected and, no doubt, being analysed with interest. Plus, as intimated by CC, only limited data released so far anyway. As per presentation page 3 – “Complete Phase 1 data in 2Q25” – a lot more data to come).

Having said that, seems likely that interested ‘commercial’ entities (under NDA), plus the FDA and MHRA, will have access to currently available data.

Painful ‘waiting game’ at present – is it quiet because CC and team are ‘busy’ (particularly Simon Bennett) with above-mentioned folks, or quiet because, having just recovered from Thanksgiving, they’re now doing their Xmas shopping? I hope the former.

GLA

Https://find-and-update.company-information.service.gov.uk/company/04748597/filing-history

50,000 shares issued today. Perhaps some former director ‘cashing in some chips’ for Xmas?

Would not require an RNS if no longer employed.

GLA