Trinity Delta21 Sep 2021 18:44
Trinity Delta
Avacta
Wetherby, United Kingdom
Avacta is a UK-based biopharmaceutical company developing novel cancer immunotherapeutics and high performing diagnostics, based on its two proprietary platforms: Affimer and pre|CISION.
www.avacta.com
Investment Perspective
Avacta is a UK-based diagnostic and nascent clinical stage drug development company. Much investor attention has focused on the near-term commercial opportunities for its point-of-care COVID-19 LFT (lateral flow test). Attractive as these prospects are, we argue greater long-term value lies within the Therapeutics pipeline. The first programme from the two proprietary platforms, Affimer and pre|CISION, is set to enter human trials. Successful clinical results would validate the concept and support a material broadening of the pipeline. Ample news flow is expected over 18-24 months, providing multiple value-inflection points. Our valuation is £710m, equivalent to 280p/share.