Avacta Group PLC Notice of Results (8226C)
13 February 2020 - 6:01PM
UK Regulatory
TIDMAVCT
RNS Number : 8226C
Avacta Group PLC
13 February 2020
13 February 2020
Avacta Group plc
("Avacta", the "Group" or the "Company")
Notice of Results
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and reagents, will announce its financial results
for the 17 months ended 31 December 2019 on Tuesday, 21 April
2020.
An analyst briefing given by Alastair Smith, Chief Executive
Officer and Tony Gardiner, Chief Financial Officer, will be held at
09.30 hrs on Tuesday, 21 April 2020 at finnCap's offices, 60 New
Broad St, London EC2M 1JJ.
- Ends -
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0)844 414 0452
Alastair Smith, Chief Executive www.avacta.com
Officer
Tony Gardiner, Chief Financial
Officer
finnCap Ltd (Nominated Adviser Tel: +44 (0)207 220 0500
and Joint Broker) www.finncap.com
Geoff Nash / Giles Rolls - Corporate
Finance
Tim Redfern - ECM
Yellow Jersey PR (Financial Media Tel: +44 (0)7764 947 137
and IR) Tel: +44 (0)7951 402 336
Sarah Hollins avacta@yellowjerseypr.com
Henry Wilkinson
Tel: +44 (0)7787 502 947
Zyme Communications (Trade and katie.odgaard@zymecommunications.com
Regional Media)
Katie Odgaard
About Avacta Group plc - https://www.avacta.com
Avacta is developing novel cancer immunotherapies combining its
two proprietary platforms - Affimer(R) biotherapeutics and
pre|CISION(TM) tumour targeted chemotherapy. With this approach,
the Company aims to address the lack of a durable response to
current immunotherapies experienced by most patients. The Company's
therapeutics development activities are based in Cambridge, UK.
The Company benefits from near-term revenues generated from
Affimer reagents for diagnostics, bioprocessing and research,
through a separate business unit based in Wetherby, UK.
The Affimer platform is an alternative to antibodies derived
from a small human protein. Despite their shortcomings, antibodies
currently dominate markets worth in excess of $100bn. Affimer
technology has been designed to address many of these negative
performance issues, principally: the time taken, and the reliance
on an animal's immune response, to generate new antibodies; poor
specificity in many cases; large size and cost.
Avacta's pre|CISION platform, activates chemotherapy only in the
tumour, thereby limiting systemic exposure and damage to healthy
tissues, and thus improving the overall safety and therapeutic
potential of these powerful anti-cancer treatments.
By combining these two platforms the Company is building a
wholly owned pipeline of novel cancer therapies with the aim of
creating effective treatments for all cancer patients including
those who do not respond to existing immunotherapies. Avacta
expects to take its first drug, a pre|CISION targeted form of the
standard-of-care Doxorubicin, into the clinic in the middle of
2020.
Avacta has established drug development partnerships with pharma
and biotech, including with Moderna Therapeutics Inc., a
collaboration with LG Chem to develop treatments for autoimmune and
inflammatory diseases worth up to $310m, a partnership with ADC
Therapeutics to develop Affimer drug conjugates and a joint venture
in South Korea with Daewoong Pharmaceuticals to develop the next
generation of stem cell therapies that incorporate Affimer
immuno-modulators. Avacta actively seeks to license its proprietary
platforms in a range of therapeutic areas.
The Avacta diagnostics business unit works with partners
world-wide to develop Affimers for evaluation by those third
parties with the objective of establishing royalty bearing license
deals. The Company is also developing a small in-house pipeline of
Affimer-based diagnostic assays for licensing.
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END
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