Last checked at 29 Nov 2006 07:00
Avacta Group plc
Master Service Agreement with UCB Celltech
Avacta Analytical Limited, the wholly owned subsidiary of Avacta Group plc ("Avacta") which provides advanced biophysics services to the biopharmaceutical, pharmaceutical, healthcare and personal care sectors, has signed a three year Master Service Agreement ("MSA") with UCB Celltech, the UK branch of UCB S.A. ("UCB").
As part of this agreement, Avacta will provide a broad spectrum of analytical services which will include the biophysical analysis of the higher order structure of biopharmaceuticals. The MSA will enter a rolling twelve month contract phase once the initial three year period is complete.
Avacta specialises in using techniques from the physical sciences to provide information, principally to biotech and healthcare clients, and in co-developing new technologies with clients to satisfy needs in these important sectors. Avacta believes that the use of biophysical techniques in the elucidation of the higher order structure and physical properties of biopharmaceuticals can provide information about the effects of processing and formulation. This is critical to performance and assists in the early development of biological therapeutics to bring new drugs to market more efficiently and with significant cost savings.
Prof Alastair Smith, Chief Executive Officer of Avacta, commented:
"This agreement strengthens our working relationship with a high profile biopharmaceutical client and strongly supports the wider acceptance of our service offerings and technology in this sector. Furthermore, this agreement helps validate Avacta's position as an industry expert and driving force in the detailed biophysical characterisation of therapeutic molecules."
Richard Pither, Vice President NBE Research of UCB Celltech, commented:
"We have been working with Avacta for two years and this new rolling agreement will allow us to work in even greater depth and breadth in the future."
29 November 2006Enquiries:Avacta Group plc Tel: 0870 835 4367 Alastair Smith, Chief Executive Nexus Financial Ltd Tel: 020 7451 7050 Nicholas Nelson nicholas.nelson@nexusgroup.co.uk Notes to Editors:About Avacta
Avacta was spun-out from the University of Leeds in January 2004 by its current management team as a biophysics company, with the aim of combining the disciplines of physics and biology to develop innovative technologies to address needs in the homeland security, pharmaceutical and clinical diagnostics markets. The goal of Avacta is to integrate the best elements of each discipline into technologies suitable to address specific identified needs in the targeted markets. In seeking to achieve this goal Avacta intends to combine its in-house expertise in laser spectroscopy, nanotechnology and instrumentation engineering with its understanding of the versatility and specificity 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 8th August 2006.
About UCB
UCB (www.ucb-group.com) is a leading global biopharmaceutical company dedicated to the research, development and commercialisation of innovative pharmaceutical and 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 2.3 billion euro in 2005. UCB is listed on the Euronext Brussels Exchange and its worldwide headquarters are located in Brussels, Belgium.
AVACTA GROUP PLC