Collaboration Agreement with Bruker

RNS Number : 1255N

Avacta Group PLC

28 January 2021

 

28 January 2021

Avacta Group plc

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

Collaboration Agreement with Bruker

Collaboration to evaluate the clinical utility of the high throughput bead assisted mass spectrometry (BAMS^TM) test for SARS-CoV-2 infection developed with Adeptrix

Avacta Group plc (AIM: AVCT), the developer of Affimer^® biotherapeutics and reagents, announces   that it has entered into a collaboration agreement with Bruker Corporation (Billerica, MA) (NASDAQ: BRKR, "Bruker") to evaluate the Affimer-based, bead assisted mass spectrometry ("BAMS^TM") SARS-CoV-2 assay, that the Group has developed with Adeptrix Inc. (Beverley, MA) ("Adeptrix").

Bruker is one of the world's leading analytical instrumentation companies providing high-performance scientific instruments and high-value analytical and diagnostic solutions to scientists globally. It is also one of the foremost suppliers of mass spectrometers with a significant installed based in clinical microbiology laboratories in hospitals world-wide.

Avacta has worked with Adeptrix Inc (Beverly, MA, USA) to develop a coronavirus antigen test  that combines enrichment of the sample using Affimer^® reagents with the analytical power of mass-spectrometry. Up to 1,000 samples per day can be analysed by a single technician using a BAMS assay, exceeding the capacity of the commonly used PCR machines, making BAMS a potentially very attractive high throughput technique for COVID-19 screening in the clinical setting.

Having successfully developed a prototype test with Adeptrix, Avacta, has been working with its clinical partners in the UK to refine the assay to fit into the typical workflows in a clinical microbiology laboratory. The collaboration with Bruker announced today will assess the suitability of the test as a professional-use in-vitro diagnostic (IVD) product for SARS-CoV-2 infection to run on Bruker's MALDI-TOF instruments for sale in the UK and Europe.

Dr Alastair Smith, Chief Executive Officer of Avacta Group, commented:  

"I am delighted to have established this collaboration agreement with Bruker to further develop the potential for the BAMS COVID-19 test as a clinical IVD. We will be working closely with Bruker on the clinical assessment of the BAMS assay on Bruker's MALDI-TOF instruments.

Our objective is to work with Bruker and our clinical partners to deliver an effective and high throughput assay protocol, that can be applied in the clinical setting, with the required sensitivity and specificity and CE/FDA approvals to provide a useful additional diagnostic tool in the fight against the coronavirus.

I look forward to updating the market when we have definitive clinical performance data."

This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).

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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
finnCap Ltd (Nominated Adviser and Joint Broker)		Tel: [phone]
Geoff Nash / Giles Rolls - Corporate Finance Tim Redfern - ECM		www.finncap.com
Stifel Nicolaus Europe Limited (Joint 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			avacta@f ticonsulting .com
Zyme Communications (Trade and Regional Media)		Tel: [phone]
Katie Odgaard		[e-mail]

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

Avacta Group is developing novel cancer immunotherapies and powerful diagnostics based on its two 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 Company is also developing an in-house pipeline of Affimer-based diagnostic assays including the AffiDX^TM SARS-CoV-2 Lateral Flow Rapid Antigen Test and a BAMS^TM 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 Company 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 Company's lead pre|CISION^TM 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 Moderna Therapeutics Inc., a deal with LG Chem worth up to $400m, a partnership with ADC Therapeutics and a collaboration with Point Biopharma to develop radiopharmaceuticals based on the pre|CISION^TM platform. Avacta actively seeks to license its proprietary platforms in a range of therapeutic areas.

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