Avacta Group Regulatory News (AVCT)

13 Aug 2007 07:00

Avacta Group plc

Collaboration with Cancer Research UK, Leeds University and Leeds Teaching Hospitals NHS Trust for Diagnostic Technology

Cancer Diagnosis using Avacta's laser analysis technology

Avacta Group plc ("Avacta"), which develops detection and analysis technology aimed at the defence & security, pharmaceutical and clinical diagnostics markets, announces that it has formed an agreement with Leeds University; through research and development at the Leeds Teaching Hospitals funded in part by Cancer Research UK to modify and apply Avacta's laser analysis technology to the early diagnosis of various types of cancers.

Avacta is currently developing technology that will help biopharmaceutical companies bring drugs to market quickly and cheaply by identifying problems with new compounds at a much earlier stage than is currently possible, potentially providing huge cost savings in the drug development pipeline. The same technology that identifies problems with biological therapeutic molecules could be used to identify abnormalities of cells and tissue that are indicative of cancer.

Pilot studies, conducted by Mr Andrew Harris, funded by Cancer Research UK, have provided encouraging results and now further funding for three years research and development has been provided for Mr Harris through a Cancer Research UK Clinical Research Training Fellowship to continue the development of diagnostic tools with Avacta. The research will be based at Avacta and the University of Leeds and carried out in conjunction with the Leeds General Infirmary.

By modifying Avacta's laser analysis platform it is hoped that a specific technology, capable of analyzing tissue samples and providing rapid diagnosis, will be developed. The aim is to aid significantly the detection of cancerous matter reliably and speedily during routine screenings and surgical operations.

Professor Alastair Smith, Chief Executive, Avacta, commented:

"We are all very excited about the possibility of applying the technology we are developing for the biopharmaceutical sector to clinical diagnostics. The potential benefits of a rapid diagnostic technology to assist pathologists or help surgeons such as Mr. Harris define the extent of tumours during an operation are enormous. We are working hard with our partners on the development of such a tool and the Cancer Research UK funding for Mr. Harris is both an enormous assistance and tremendous encouragement."

Mr Andrew Harris, Cancer Research UK Clinical Research Training Fellow, said:

"To make significant advances in real-time diagnosis, collaboration between clinicians and scientists is essential. Here we have what may be a unique opportunity to combine biophysics expertise in laser analysis and data processing with experience of clinical need and access to clinical samples to prove the technology. I am very excited about the prospect of working with Avacta to deliver what could be a new age in cancer diagnostics and I am extremely grateful to Cancer Research UK for supporting this work."

13 August 2007Enquiries:Avacta Group plc Tel: 0870 835 4367 Alastair Smith, Chief Executive Nexus Financial Ltd Tel: 020 7451 7050 Nicholas Nelson/Kathy Boate nicholas.nelson@nexusgroup.co.uk WH Ireland Ltd (Nominated Adviser) Tel: 0161 832 2174 David Youngman/Robin Gwyn BankOra Ltd Tel: 020 7099 1942 Michael Brennan/Henry Turcan Notes to Editors:About Avacta

Avacta was spun-out from the University of Leeds in 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 and expert technical services to address needs in the pharmaceutical, defence and clinical diagnostics markets. Avacta has a core bio-analytical technology development programme addressing the needs of the biopharmaceutical sector to fully characterise their new products at the earliest stage in their development to reduce the risk of late stage failure. High value solutions in defence and clinical diagnostics are also being provided by Avacta's development programmes. A successful and growing part of the Avacta business model is its technical services arm, Avacta Analytical Ltd which is focused on providing leading edge contract research to the biopharmaceutical and healthcare/personal-care materials sectors. Avacta listed on AIM in August 2006 through the reverse takeover of Readybuy plc which changed its name to Avacta Group plc.

About Cancer Research UK

Together with its partners and supporters, Cancer Research UK's vision is to beat cancer. The charity carries out world-class research to improve understanding of the disease and find out how to prevent, diagnose and treat different kinds of cancer. It ensures that its findings are used to improve the lives of all cancer patients. Cancer Research UK helps people to understand cancer, the progress that is being made and the choices each person can make. The charity works in partnership with others to achieve the greatest impact in the global fight against cancer. For further information about Cancer Research UK's work or to find out how to support the charity, please call 020 7009 8820 or visit www.cancerresearchuk.org