RE: Very interesting company22 Oct 2019 13:35
Significant piece from the interims:
'I am also delighted to report that the collaboration and license deal established with Professor Bill Bachovchin of Tufts University Medical School is progressing very well. The opportunity to test the tumour targeting chemistry in the clinic as early as next year is well ahead of schedule and could be game-changing for Avacta. Doxorubicin is a $1bn drug despite severe cardiotoxicity issues that limits its effectiveness. In the case of Avacta's improved version of this drug, AVA6000 pro-Doxorubicin that is based on the Tufts technology, we have seen a dramatic improvement in safety in pre-clinical animal models. If we see a similar reduction in cardiotoxicity in humans in the planned phase I clinical trial of AVA6000 in 2020, then there is the potential for a major license deal that could generate a transformational, non-dilutive, upfront payment of tens of millions of dollars. This funding would support all our other programmes in future. We should also be able to apply the Tufts technology to improve the safety of a large number of other established chemotherapies and generate similar licensing opportunities. For this reason, we are prioritising this programme with respect to use of the proceeds of today's successful placing.'