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.
Today announces that its Annual Report and Accounts for the year ended 31 December 2021 and the Notice of the 2022 Annual General Meeting (‘AGM’) are now available on the Company’s website www.avacta.com.
Copies of the Annual Report and Accounts and the Notice of AGM have been posted to shareholders who have elected to receive them in paper form.
The Annual General Meeting will be held on Thursday, 23 June 2022 at 3.30 p.m. BST at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD. Shareholders who plan to attend are required to register their attendance and prove their shareholding by email to [email protected].
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: +44 (0) 844 414 0452
About Avacta Group plc – 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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