Issue of Equity

RNS Number : 5893M

Avacta Group PLC

31 July 2017

 

31 July 2017

Avacta Group plc

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

Issue of Equity

Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and research reagents, today announces that following the exercise of employee share options it has issued and allotted 500 new ordinary shares of 10 pence each in the Company ("Ordinary Shares"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 7 August 2017 ("Admission").

Following Admission, the total number of Ordinary Shares with voting rights in issue will be 68,397,933. Accordingly, shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

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For further information:

Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer	Tel:  [phone] www.avacta.com
finnCap Ltd Geoff Nash / Giles Rolls - Nominated Adviser Tim Redfern / Alice Lane - Corporate Broking WG Partners Nigel Birks / Nigel Barnes David Wilson / Claes Spang	Tel:  [phone] www.finncap.com Tel:  [phone] Tel:  [phone] www.wgpartners.co.uk
FTI Consulting (Financial Media and IR) Simon Conway / Natalie Garland-Collins	Tel: [phone] [e-mail]

About Avacta Group plc (www.avacta.com)

Avacta's principal focus is on its proprietary Affimer^® technology which is a novel engineered alternative to antibodies that has wide application in Life Sciences for diagnostics, therapeutics and general research and development.

Antibodies dominate markets worth in excess of $50bn despite their shortcomings. Affimer technology has been designed to address many of these negative performance issues, principally; the time taken to generate new antibodies, the reliance on an animal's immune response, poor specificity in many cases, and batch to batch variability. Affimer technology is based on a small protein that can be quickly generated to bind with high specificity and affinity to a wide range of protein targets.

Avacta has a pre-clinical biotech development programme with an in-house focus on immuno-oncology and bleeding disorders as well as partnered development programmes. Avacta is commercialising non-therapeutic Affimer reagents through licensing to developers of life sciences research tools and diagnostics.

 

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