Avacta to Present at Theranostics FAP Summit

RNS Number : 7742E

Avacta Group PLC

31 October 2022

 

 

31 October 2022

Avacta Group plc

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

Avacta to Present at Virtual Theranostics FAP Summit

Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer^® and pre|CISION™ platforms , announces that it will be presenting at the Theranostics FAP Summit, organised by the International Centers for Precision Oncology Foundation, being held on 5 November 2022.

The online meeting will feature world-renowned experts in the biology of Fibroblast Activation Protein (FAP), which is highly expressed in cancer-associated fibroblasts (CAF) across many tumour types. Representatives from academia and industry will take a deep dive into the topic of FAP, its history and role in the biology of disease, the current state of research, and future applications in both diagnostics and therapeutic areas.

AVA6000 is a form of the generic chemotherapy doxorubicin that has been modified using Avacta's pre|CISION technology so that it is activated by FAP, predominantly in the tumour, with the aim of sparing healthy tissue from exposure and improving the safety, tolerability and efficacy of the drug. Avacta's presentation, to be given by Dr Fiona Maclaughlin, Chief Scientific Officer of the Therapeutics division, will highlight the pre-clinical development of AVA6000.

No new information will be shared as part of the presentation.

Title: Pre-clinical Development of AVA6000 - a FAP targeted chemotherapeutic agent in Phase I

Day/Date: Saturday, 5 November 2022

Time: 17:30 - 17:45 CET

Session number: VI

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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 Michael Vinegrad, Group Communications Director	Tel: [phone] www.avacta.com
Stifel Nicolaus Europe Limited (Nomad and Broker) Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland	Tel: [phone] www.stifel.com
FTI Consulting (Financial Media and IR) Simon Conway / Alex Shaw / George Kendrick	Tel: [phone] [e-mail]
Zyme Communications (Trade and Regional Media) Lily Jeffery	Tel: [phone] [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 and is derived from a small human protein. Affimer technology has been designed to address many of the negative issues of antibodies, principally: the time taken to generate new antibodies, the reliance on an animal's immune response; poor specificity in many cases; in addition to, the complexity and high cost of manufacture. Despite these shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, which are worth in excess of $100bn.

Avacta's pre|CISION™ targeted chemotherapy platform is designed to selectively release active chemotherapy in FAP rich tumour tissue to limit the systemic exposure that causes damage to healthy tissues, and thereby aims to improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.

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

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

Avacta's Therapeutics Division is working to generate more tolerable and durable treatments for oncology patients who do not respond to existing therapies. By combining its two proprietary platforms the Group is building a wholly owned pipeline of clinically differentiated cancer therapies. In 2021 Avacta transitioned to become a clinical stage biopharmaceutical company, when it commenced a phase I trial in patients with locally advanced or metastatic selected solid tumours. The study was a first-in-human, open label, dose-escalation and expansion study of the Group's lead pre|CISION™ prodrug, AVA6000 (a pro-doxorubicin).

Avacta has established drug development partnerships with pharma and biotech, including 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 and a recent license agreement with Point Biopharma for them to develop radiopharmaceuticals based on the pre|CISION™ platform.

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