Member Info for Muck165

Thanks Mr R

I was looking at clinical trials.gov this morning and see it has been revamped. I noticed in particular a section which I don’t think I’d seen before called “Expanded Access”, which says “ Avacta Life Sciences Ltd has indicated that access to an investigational treatment associated with this study is available outside the clinical trial.”

Anyone know what this means? Thanks (and apologies if this isn’t in fact new!)

https://beta.clinicaltrials.gov/study/NCT04969835?distance=50&term=Ava6000&rank=1

You’ve clearly put a lot of work into these, but I can’t be alone in failing to see the direct relevance to AVCT, apart from perhaps that a targeted therapy might help prevent CIPN. Is that what you’re driving at? Thanks

Agree Hanoihank - SPARTA came out of Imperial and it’s interesting AS became involved with them shortly after our move to White City. In that respect, I see the WC Innovation Hub is hosting a ‘jaw drop” summit for industry and academia on 2/2/23, at which Fiona M will be speaking.

https://www.eventbrite.co.uk/e/jawdrop-summit-breathing-life-into-the-life-sciences-tickets-472509547777

Is it just me or are all the more recent Senior hires given the title “VP”? Isn’t that more of a US thing? Just seems a bit odd to me to see a U.K. company doing it.

Just some info about upcoming legislation which will tighten FDA oversight of accelerated approvals.

https://www.biopharmadive.com/news/fda-accelerated-approval-congress-omnibus-bill-spending/639196/

For anyone interested, here’s a bit more. I came across this a little while ago because Julie Charlton, our Head of Project and Portfolio Mgmt has been liking posts about Optimus for a while.

https://www.sciencedirect.com/science/article/pii/S0923753422041643

Focus is moving from MTD to Optimum dose. Worth a read from a a few days ago

https://www.nature.com/articles/d41586-022-04435-4

Deadline submission date for Clinical Trial or Late Breaking Abstract is interesting - 12 Jan 2023. Could this possibly coincide with a our signposted early January RNS?

Yep - Dr Paul Ko Ferrigno, ex Avacta CTO I think. Interestingly, a quick search through companies house shows he has strong links with Palmer & Thronger, the pair that made a mint acting as middleman between Innova and the U.K. govt.

See https://www.linkedin.com/in/chris-yates-75970b1b/recent-activity/ for an article I see Chris Yates liked about a new saliva based pregnancy test. Two interesting things for me;

1) It demonstrates the power and potential of the LFT market
2) I noted that of the 24 people liking this piece, 10 were from ABDX. Makes you wonder if we have a potential distributor deal or even better a manufacturing deal in the pipeline for it.

Or I could just be looking for rays of hope…l

https://www.salignostics.com/salistick/

I just think it’s noteworthy that in its last quarterly SEC return Clovis said it wouldn’t have sufficient liquidity to maintain operations past Jan 23, citing amongst other things challenges it was facing in raising additional capital, yet little old Avacta seemed to have no difficulty whatsoever in raising what it needed.

For anyone interested, Vatic administrators have filed docs at companies house explaining what happened to the company, alongside an unsecured creditor list.

I noted two things.

1) Vatic ongoing viability relied on FDA approval and a decision had been taken to sell the company if that approval was not received by 31 August 2022. Interesting then that on 15 August ABDX gave no hint of such a deadline in its RNS, instead saying “ Following the announcement on 5 April 2022, the Company continues to work closely with Vatic as they progress their US FDA Emergency Use Approval ("EUA") and awaits the key reagent from Vatic to begin the manufacturing of the devices. It is anticipated that there is the potential for significant manufacturing volume subject to Vatic attaining FDA EUA approval; although the timing or materialisation of revenues in relation to this contract are uncertain.”

2) Our subsid, Forsite Diagnostics, is owed £121,500 by Vatic. There are a host of other creditors.

https://find-and-update.company-information.service.gov.uk/company/12275099/filing-history

There’s a song I think “who the **** is Alan”, or was that Alice?

Those Director buys are pretty much the only positive I can see at the mo. I do think ABDX has been unlucky in its choices and refuse to believe Yates and Hand are stupid, especially with their own money. Let’s hope something came out of MEDICA for us….

Pumpky - search “drink spike test” in Google, and we appear nowhere in the results. Checkyourdrink.com, ie the people we distribute for come top of the results, and you can buy direct from them.

We have an online retail shop, but nobody knows about it, and nobody could find it unless they new precisely what to search for. Until ABDX sort that, I really can’t see Abingdonsimplytest selling much of anything.

Just to throw it in, but I still wonder if project Optimus, introduced by the FDA earlier this year, has had an effect on the trial such that more focus is being put on finding an optimal dose rather than a MTD. Personally I think this is the right approach, it just might take longer…

£7.6m cash end of July. £4.4m end Oct. All inclusive of the £1.5m. That’s some burn. Nothing re Arise.

Ok, can’t complain at that….

Problem really is that apart from us lot, who has ever heard of “Abingdon Simply Test”? Anyone looking for a test would google search, yet we appear nowhere in the search results, and ABDX don’t even seem that bothered about pushing the brand. Makes me wonder if the whole point was actually to build relationships with developers with one eye on securing a manufacturing agreement. I’d be quite happy with that - I didn’t invest for a retail distribution channel - I want to be making the things at scale!

The August trading update told us to expect a substantial loss for the period, so that's what I'm expecting! It will be interesting to see if they give us an updated cash position; they told us they had £7.6m at the end of July, including the £1.5m held in an account charged to the DHSC, and that this would be enough to last til mid 23 without material revenue growth. Companies House still shows that DHSC charge as outstanding, however, despite the JR ruling, which unnerves me - if that money is not now ready and available cash then the runway will be much shorter than mid 23. Hopefully that is just some admin incompetence.

I don't think the Taiwan contract is going to come off. Vatic is dead. The European customer is dead. So we are relying on something new.

I look at this one way and think that covid saw an explosion of test developers, many of which are now looking to expand their range in what many call a paradigm shift to self testing, and all of which need manufacturers to make them. There are a limited number of manufacturing partners, which should mean we should be able to take our pick.

But then of course you need a market. Plenty will say there is now real public interest in self testing, but do people have the money in their pockets (given the current environment) to spend on what are, essentially, luxury items?

I agree that a stellar contract could set the SP on fire.....I'm just struggling to see where its going to come from right now.