Avacta Group plc Enters Collaboration and Option Agreement With ADC Therapeutics
10 October 2019 - 6:41PM
Business Wire
Focus on developing potent Affimer-drug
conjugates
Avacta Group plc (AIM: AVCT), a biotechnology
company developing novel cancer immunotherapies based on its
proprietary Affimer® platform, today announced that it has entered
a collaboration and option agreement with ADC Therapeutics SA, a
clinical-stage oncology-focused biotechnology company pioneering
the development of highly potent and targeted antibody-drug
conjugates for patients suffering from haematological malignancies
and solid tumours. The agreement is to develop Affimer-drug
conjugates combining Avacta’s Affimer technology with ADC
Therapeutics’ pyrrolobenzodiazepine (PBD)-based warhead and linker
technologies.
As part of the multi-target collaboration Avacta will generate
and optimise Affimer binders against three undisclosed cancer
targets and provide these to ADC Therapeutics to target its
proprietary cytotoxic warheads (PBDs) to the site of the tumour.
ADC Therapeutics will carry out pre-clinical research and
development programmes to evaluate each of the Affimer-drug
conjugates with a view to generating clinical candidates.
The commercial agreement between the two companies provides ADC
Therapeutics with options, on a target by target basis, to obtain
exclusive licenses to the Affimer proteins for clinical development
and commercialisation.
Under the terms of the agreement, ADC Therapeutics will cover
all Avacta’s costs during the collaboration. Upon ADC Therapeutics
entering into each of the commercialisation licenses and
successfully bringing new Affimer-drug conjugates to market, Avacta
will receive option fees, development and commercialisation
milestones, as well as a single-digit royalty on sales. Further
financial details are not disclosed.
Dr Alastair Smith, Chief Executive Officer of Avacta Group,
commented: “I am delighted to have established this
collaboration with ADC Therapeutics to develop drug conjugates that
harness the benefits of Affimer proteins to selectively and
efficiently target ADC Therapeutics’ PBD drugs to the site of the
tumour. We are very excited about the potential of this
collaboration to develop breakthrough oncology treatments, and
about its considerable commercial value to Avacta.
We look forward to working closely with the ADC Therapeutics
team to generate new Affimer-drug conjugates and advance these
promising cancer treatments into the clinic.”
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Zyme Communications (Trade and Regional Media) Katie
Odgaard Tel: +44 (0)7787 502 947
katie.odgaard@zymecommunications.com
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