Appointment of Joint Broker

RNS Number : 5025I

Avacta Group PLC

02 April 2020

 

2 April 2020

Avacta Group plc

("Avacta", the "Group" or the "Company") 

Appointment of Joint Broker

Avacta Group plc (AIM: AVCT), the developer of Affimer^® biotherapeutics and research reagents, is pleased to announce the appointment of Zeus Capital Limited as joint broker with immediate effect.

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For further information from Avacta Group plc, please contact:

Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer	Tel:  [phone] www.avacta.com
finnCap Ltd (Nominated Adviser and Joint Broker) Geoff Nash / Giles Rolls, Corporate Finance Tim Redfern - ECM	Tel:  [phone] www.finncap.com
Zeus Capital Limited (Joint Broker) John Goold / Rupert Woolfenden, Corporate Broking Yellow Jersey PR (Financial Media and IR) Sarah Hollins Henry Wilkinson Zyme Communications (Trade and Regional Media) Katie Odgaard	Tel: [phone] www.zeuscapital.co.uk Tel: [phone] [e-mail] Tel: [phone] [e-mail]

About Avacta Group plc - https://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 $100bn.  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 platform, activates chemotherapy only in the tumour, thereby limiting systemic exposure and damage to healthy tissues, and thus 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 late 2020.

Avacta has established drug development partnerships with pharma and biotech, including with Moderna Therapeutics Inc., a collaboration with LG Chem to develop treatments for autoimmune and inflammatory diseases worth up to $310m, a partnership with ADC Therapeutics to develop Affimer drug conjugates and a joint venture in South Korea with Daewoong Pharmaceuticals to develop the next generation of stem cell therapies that incorporate Affimer immuno-modulators. Avacta actively seeks to license its proprietary platforms in a range of therapeutic areas.

The 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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