Avacta Group PLC Research collaboration with FIT Biotech Oy (7376S)
05 October 2017 - 5:00PM
UK Regulatory
TIDMAVCT
RNS Number : 7376S
Avacta Group PLC
05 October 2017
5 October 2017
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Avacta initiates gene therapy research collaboration with FIT
Biotech Oy
Collaboration to assess the benefits of combining Affimer(R)
technology
with FIT Biotech's gtGTU(R) platform
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and reagents, is pleased to announce it has
initiated a research collaboration with FIT Biotech Oy (FITBIO:FN
Finland) to assess the effectiveness of developing gene therapies
using Avacta's Affimer technology combined with FIT Biotech's
gtGTU(R) platform.
Therapeutic proteins can be delivered to a patient by directly
injecting the protein drug or by delivering the DNA blueprint that
encodes the protein (the "gene") into the patient's cells. The
patient's own cells then make the protein drug. The ideal protein
drug must be produced easily by the patient's cells in order that a
clinically relevant dose is achieved.
Affimer proteins are small, very simple in structure and are
easily produced and are therefore potentially ideal for gene
delivery. The research collaboration with FIT Biotech is Avacta's
second in the area of gene therapy, with the same benefits of
Affimer technology underpinning the Company's existing research
collaboration with Moderna Therapeutics Inc.
FIT Biotech's gtGTU vector, which is a technology for delivering
genes to patients, was developed to ensure the stable and prolonged
production of therapeutic proteins by the patient's cells, in a
safe manner. The vector thus removes the requirement for frequent
administration of biological therapeutics which are cleared from
the body after a limited time.
Dr Alastair Smith, Avacta Group Chief Executive Officer,
commented:
"I am delighted that we are starting this collaboration with FIT
Biotech. The Affimer technology is an ideal platform for gene
delivery, and working with FIT Biotech's powerful gtGTU vector
technology could lead to multiple therapeutic benefits and create a
best-in-class gene therapy combination with significant potential.
It is a very exciting prospect and the Group is keen to see the
initial data from the pilot study which we anticipate will be in
the first half of 2018."
James Kuo, Chief Executive Officer of FIT Biotech commented:
" We very much look forward to working on this project together
with Avacta. Affimer technology offers an exciting opportunity to
take targeted therapies to a new level. The high target specificity
and small size of Affimer molecules combined with gtGTU's ability
to produce therapeutics at high level for a prolonged period of
time makes this combination potentially very powerful. This
collaboration follows our strategy of bringing gtGTU to the gene
therapy market through strong partnerships."
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 844 414
Alastair Smith, Chief Executive 0452
Officer www.avacta.com
Tony Gardiner, Chief Financial
Officer
finnCap Ltd Tel: +44 (0) 207 220
Geoff Nash / Giles Rolls 0500
- Nominated Adviser www.finncap.com
Tim Redfern / Alice Lane
- Corporate Broking
Tel: +44 (0) 203 705
WG Partners 9318
Nigel Birks / Nigel Barnes Tel: +44 (0) 203 705
David Wilson / Claes Spang 9217
www.wgpartners.co.uk
Zyme Communications (Trade Tel: +44 (0)7787 502
and Regional Media) 947
Katie Odgaard katie.odgaard@zymecommunications.com
Yellow Jersey (Financial Tel: +44 (0)7764 947137
Media and IR) avacta@yellowjerseypr.com
Sarah Hollins
About Avacta Group plc (www.avacta.com)
Avacta's principal focus is on its proprietary Affimer(R)
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.
About FIT Biotech
FIT Biotech Oy is a biotechnology company established in 1995.
The company develops and licenses its patented GTU(R) (Gene
Transport Unit) vector technology for new-generation medical
treatments. GTU(R) is a gene transport technology that meets an
important medical challenge in the usability of gene therapy and
DNA vaccines.
FIT Biotech applies GTU(R) technology in its drug development
programmes. Application areas include cancer (gene therapy) and
infectious diseases such as HIV and tuberculosis, as well as animal
vaccines.
FIT Biotech shares are listed on the First North Finland
marketplace maintained by Nasdaq Helsinki Oy.
This information is provided by RNS
The company news service from the London Stock Exchange
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