Avacta Group Regulatory News (AVCT)

24 Aug 2006 07:00

Avacta Group plcCollaboration Agreement with UCB and sponsorship from the DTIAvacta Group plc ("Avacta" or the "Company"), which develops detection andanalysis technology aimed at the defence & security, pharmaceutical andclinical diagnostics markets, announces an agreement with UCB's CelltechAntibody Centre of Excellence ("UCB") together with the commencement of aDepartment of Trade and Industry ("DTI") sponsored Collaborative Research andDevelopment project.Avacta will be the lead partner, working with UCB, in developing analyticaltechnology to measure the biophysical properties of therapeutic antibodies anddevelop algorithms that use these data to predict properties that are criticalto later stage performance.Avacta believes that strong demand exists in the biopharmaceutical industry fortechniques to analyse very small quantities of biological therapeutic materialsat an early stage of the development process. The analytical techniques it isdeveloping with UCB are aimed at enabling companies to measure or predictcertain key properties of experimental compounds at an early stage in thedevelopment pipeline, prior to committing further investment. The goal is topredict as early as possible whether problems related to properties such asaggregation, stability and viscosity will occur in later stages of development,manufacturing or delivery.UCB will own the intellectual property rights generated relating specificallyto its therapeutic molecules, whilst Avacta will own the rights to the newanalytical technology and predictive tools.Avacta plans to monetise the results of this project through one or more routesincluding potentially the supply of innovative instrumentation, licensing ofthe developed technologies and the provision of high value contract screeningservices via Avacta's analytical services subsidiary.Prof. Alastair Smith, Chief Executive, Avacta, commented:"There are difficulties faced by biopharmaceutical companies in predictingtherapeuticprotein performance at an early stage, thereby leading to increasedrisk of eventual product failure. This project addresses these issues bydeveloping innovative biophysical tools for the rapid analysis of small volumesof compounds and predictive tools which may reduce the attrition rate ofcandidates in the development pipeline, thereby saving these companies manymillions."We know that considerable demand exists for analytical techniques and toolscapable of predicting at an early stage the viability of molecules as clinicalproducts and are very fortunate to have joined forces with UCB and to haveobtained sponsorship from the DTI."Dr. Richard Pither, Vice President Research - Biologicals, UCB Celltech(Antibody Centre of Excellence), added:"The team at Avacta represents the cutting edge of biophysics research combinedwith a commercial focus. This project is important to UCB in that success mayhelp us to select and develop better products, more quickly. We look forward toworking with Avacta." 24 August 2006Enquiries:Avacta Group plc Tel: 0870 835 4367 Alastair Smith, Chief Executive Nexus Financial Ltd Tel: 020 7451 7050 Nicholas Nelson, Director nicholas.nelson@nexusgroup.co.uk Kathy Boate Notes to Editors:About AvactaAvacta was spun-out from the University of Leeds in January 2004 by its currentmanagement team as a biophysics company, with the aim of combining thedisciplines of physics and biology to develop innovative technologies toaddress needs in the homeland security, pharmaceutical and clinical diagnosticsmarkets. The goal of Avacta is to integrate the best elements of eachdiscipline into technologies suitable to address specific identified needs inthe targeted markets. In seeking to achieve this goal Avacta intends to combineits in-house expertise in laser spectroscopy, nanotechnology andinstrumentation engineering with its understanding of the versatility andspecificity of biology.Avacta has two core activities: * the development of detection technology platforms designed to meet the needs of its target markets * the provision of analytical services relating to the chemical and physical analysis of materials to a range of companies, principally in the pharmaceutical, healthcare and personal care sectors. Avacta was admitted to trading on AIM on 8 August 2006.About UCBUCB (www.ucb-group.com) is a leading global biopharmaceutical company dedicatedto the research, development and commercialisation of innovative pharmaceuticaland biotechnology products in the fields of central nervous system disorders,allergy/respiratory diseases, immune and inflammatory disorders and oncology.UCB focuses on securing a leading position in severe disease categories.Employing over 8,300 people in over 40 countries, UCB achieved revenue of 2.3billion euro in 2005. UCB is listed on the Euronext Brussels Exchange and itsworldwide headquarters are located in Brussels, Belgium.ENDAVACTA GROUP PLC