Change of Nominated Adviser

RNS Number : 6703X

Avacta Group PLC

06 May 2021

 

6 May 2021

Avacta Group plc

("Avacta" or "the Group")

Change of Nominated Adviser

Avacta Group plc (AIM: AVCT), the developer of diagnostics and innovative cancer therapies based on its proprietary Affimer^® and pre|CISION™ platforms, announces the appointment of Stifel Nicolaus Europe Limited as Nominated Advisor and Sole Corporate Broker with immediate effect.

Update to disclosures required by Schedule 2(g) of the AIM Rules for Companies

In addition to disclosure of Dr Trevor Nicholls' directorship of Oxloc Limited (as disclosed on 5 August 2013), Oxloc Limited was placed into administration in 2008 and dissolved in 2010.

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For further information from Avacta Group plc, please contact:

Avacta Group plc	Tel: [phone]
Alastair Smith, Chief Executive Officer	www.avacta.com
Tony Gardiner, Chief Financial Officer
Stifel Nicolaus Europe Limited (Nominated Adviser and Sole Corporate Broker)	Tel: [phone]
Nicholas Moore / Nick Adams / Fred Walsh / Ben Maddison	www.stifel.com
FTI Consulting (Financial Media and IR)	Tel: [phone]
Simon Conway / Stephanie Cuthbert	[e-mail]
Zyme Communications (Trade and Regional Media)	Tel: [phone]
Katie Odgaard	[e-mail]

About Avacta Group plc - https://www.avacta.com

Avacta Group is developing diagnostics and innovative cancer therapies based on its proprietary platforms - Affimer^® biologics and pre|CISION^™ tumour targeted chemotherapies.

The Affimer platform is an alternative to antibodies derived from a small human protein. Despite their shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, worth in excess of $100bn. Affimer technology has been designed to address many of these negative performance issues, principally: the time taken to generate new antibodies and the reliance on an animal's immune response; poor specificity in many cases; their large size, complexity and high cost of manufacture.

Avacta's pre|CISION^™ targeted chemotherapy platform releases active chemotherapy in the tumour, which limits the systemic exposure that causes damage to healthy tissues, and thereby improves the overall safety and therapeutic potential of these powerful anti-cancer treatments.

The Group comprises two divisions: The therapeutics development activities are based in Cambridge, UK and the Group is generating near-term revenues from Affimer reagents for diagnostics, bioprocessing and research, through a separate diagnostics business unit based in Wetherby, UK.

Avacta's Diagnostics Division works with partners world-wide to develop bespoke Affimer reagents for third party products. The Group is also developing an in-house pipeline of Affimer-based diagnostic assays including the AffiDX ^® SARS-CoV-2 Lateral Flow Rapid Antigen Test and an AffiDX ^® BAMS^™ SARS-CoV-2 Assay in partnership with Adeptrix Inc.

Avacta's Therapeutics Division is addressing a critical gap in current cancer treatment - the lack of a durable response to current immunotherapies experienced by most patients. By combining its two proprietary platforms the Group is building a wholly owned pipeline of novel cancer therapies deigned to be effective for all cancer patients. In 2021 Avacta will commence a phase 1 first-in-human, open label, dose-escalation and expansion study of AVA6000 Pro-doxorubicin, the Group's lead pre|CISION^™ prodrug, in patients with locally advanced or metastatic selected solid tumours.

Avacta has established drug development partnerships with pharma and biotech, including a research collaboration with ModernaTX,Inc. (formerly Moderna Therapeutics Inc.), a multi-target deal with LG Chem worth up to $400m, a joint venture in South Korea with Daewoong Pharmaceutical focused on cell and gene therapies incorporating Affimer immune-modulators, a partnership with ADC Therapeutics to develop Affimer-drug conjugates and a collaboration with Point Biopharma to develop radiopharmaceuticals based on the pre|CISION^™ platform. Avacta continues to actively seek to license its proprietary platforms in a range of therapeutic areas.

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