Last checked at 29 Sep 2020 07:00
29 September 2020
Avacta Group plc
("Avacta" or the "Group" or the "Company")
Appointment of Joint Broker
Avacta Group plc (AIM: AVCT), the developer of innovative cancer therapies and diagnostics based on its proprietary Affimer® and pre|CISIONTM platforms, is pleased to announce the appointment of Stifel Nicolaus Europe Limited as joint broker with immediate effect.
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For further information from Avacta Group plc, please contact:
Avacta Group plc | Tel: +44 (0) 844 414 0452 | |
Alastair Smith, Chief Executive Officer | www.avacta.com | |
Tony Gardiner, Chief Financial Officer | ||
finnCap Ltd (Nominated Adviser and Joint Broker) | Tel: +44 (0) 207 220 0500 | |
Geoff Nash / Giles Rolls - Corporate Finance Tim Redfern - ECM | www.finncap.com
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Stifel Nicolaus Europe Limited (Joint Broker) | Tel: +44 (0) 207 710 7600 | |
Nicholas Moore / Nick Adams / Fred Walsh / Ben Maddison | www.stifel.com | |
Yellow Jersey PR (Financial Media and IR) | Tel: +44 (0) 203 004 9512 | |
Sarah Hollins / Henry Wilkinson | avacta@yellowjerseypr.com | |
Zyme Communications (Trade and Regional Media) | Tel: +44 (0) 7787 502 947 | |
Katie Odgaard | katie.odgaard@zymecommunications.com
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About Avacta Group plc - www.avacta.com
Avacta is developing novel cancer immunotherapies combining its two proprietary platforms - Affimer® biotherapeutics and pre|CISION™ tumour targeted chemotherapy. With this approach, the Company aims to address the lack of a durable response to current immunotherapies experienced by most patients. The Company's therapeutics development activities are based in Cambridge, UK.
The Company benefits from near-term revenues generated from Affimer reagents for diagnostics, bioprocessing and research, through a separate business unit based in Wetherby, UK.
The Affimer platform is an alternative to antibodies derived from a small human protein. Despite their shortcomings, antibodies currently dominate markets worth in excess of $100 billion. Affimer technology has been designed to address many of these negative performance issues, principally: the time taken, and the reliance on an animal's immune response, to generate new antibodies; poor specificity in many cases; large size and cost.
Avacta's pre|CISION targeted chemotherapy platform, releases active chemotherapy only in the tumour, thereby limiting systemic exposure and damage to healthy tissues, and thereby improving the overall safety and therapeutic potential of these powerful anti-cancer treatments.
By combining these two platforms the Company is building a wholly owned pipeline of novel cancer therapies with the aim of creating effective treatments for all cancer patients including those who do not respond to existing immunotherapies. Avacta expects to take its first drug, a pre|CISION targeted form of the standard-of-care doxorubicin, into the clinic in early 2021.
Avacta has established drug development partnerships with pharma and biotech, including with Moderna Therapeutics Inc., a deal with LG Chem worth up to $400 million, a partnership with ADC Therapeutics to develop Affimer drug conjugates and has established a joint venture in South Korea with Daewoong Pharmaceutical focused on cell and gene therapies incorporating Affimer immune-modulators. Avacta actively seeks to license its proprietary platforms in a range of therapeutic areas.
Avacta diagnostics business unit works with partners world-wide to develop Affimers for evaluation by those third parties with the objective of establishing royalty bearing license deals. The Company is also developing a small in-house pipeline of Affimer-based diagnostic assays for licensing.
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