Avacta Group PLC Issue of Equity (2647X)
30 April 2021 - 9:37PM
UK Regulatory
TIDMAVCT
RNS Number : 2647X
Avacta Group PLC
30 April 2021
30 April 2021
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Issue of Equity
Avacta Group plc (AIM: AVCT), the developer of innovative cancer
therapies and diagnostics based on its proprietary Affimer(R) and
pre|CISION(TM) platforms, today announces that following the
exercise of share options by an employee it has issued and allotted
in total 22,770 new ordinary shares of 10 pence each in the Company
("Ordinary Shares").
Application will be made for the Ordinary Shares to be admitted
to trading on AIM and dealings are expected to commence on 7 May
2021 ("Admission") . The Ordinary Shares will rank pari passu with
the existing Ordinary Shares of the Company.
Following Admission, the Company's enlarged issued share capital
will be 253,424,204 . This figure may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
-Ends -
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 844 414
Alastair Smith, Chief Executive Officer 0452
Tony Gardiner, Chief Financial Officer www.avacta.com
finnCap Ltd (Nomad and Joint Broker) Tel: +44 (0) 207 220
Geoff Nash / Giles Rolls / Teddy Whiley 0500
- Corporate Finance www.finncap.com
Tim Redfern - ECM
Stifel Nicolaus Europe Limited (Joint Tel: +44 (0) 207 710
Broker) 7600
Nicholas Moore / Nick Adams / Fred Walsh www.stifel.com
/ Ben Maddison
FTI Consulting (Financial Tel: +44 (0) 203 727 1000
Media and IR)
Simon Conway / Stephanie Cuthbert avacta@f ticonsulting .com
Zyme Communications (Trade and Tel: +44 (0)7787 502 947
Regional Media) katie.odgaard@zymecommunications.com
Katie Odgaard
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(R) biologics and pre|CISION(TM) tumour targeted
chemotherapies.
The Affimer platform is an alternative to antibodies derived
from a small human protein. Despite their shortcomings, antibodies
currently dominate markets, such as diagnostics and therapeutics,
worth in excess of $100bn. Affimer technology has been designed to
address many of these negative performance issues, principally: the
time taken to generate new antibodies and the reliance on an
animal's immune response; poor specificity in many cases; their
large size, complexity and high cost of manufacture.
Avacta's pre|CISION targeted chemotherapy platform releases
active chemotherapy in the tumour, which limits the systemic
exposure that causes damage to healthy tissues, and thereby
improves the overall safety and therapeutic potential of these
powerful anti-cancer treatments.
The Group comprises two divisions: The therapeutics development
activities are based in Cambridge, UK and the Group is generating
near-term revenues from Affimer reagents for diagnostics,
bioprocessing and research, through a separate diagnostics business
unit based in Wetherby, UK.
Avacta's Diagnostics Division works with partners world-wide to
develop bespoke Affimer reagents for third party products. The
Group is also developing an in-house pipeline of Affimer-based
diagnostic assays including the AffiDX(R) SARS-CoV-2 Lateral Flow
Rapid Antigen Test and AffiDX(R) BAMS(TM) SARS-CoV-2 Assay in
partnership with Adeptrix Inc.
Avacta's Therapeutics Division is addressing a critical gap in
current cancer treatment - the lack of a durable response to
current immunotherapies experienced by most patients. By combining
its two proprietary platforms the Group is building a wholly owned
pipeline of novel cancer therapies deigned to be effective for all
cancer patients. In 2021 Avacta will commence a phase 1
first-in-human, open label, dose-escalation and expansion study of
AVA6000 Pro-doxorubicin, the Group's lead pre|CISION(TM) prodrug,
in patients with locally advanced or metastatic selected solid
tumours.
Avacta has established drug development partnerships with pharma
and biotech, including a research collaboration with ModernaTX,Inc.
(formerly Moderna Therapeutics Inc.), 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, a partnership with ADC
Therapeutics to develop Affimer-drug conjugates and a collaboration
with Point Biopharma to develop radiopharmaceuticals based on the
pre|CISION(TM) platform. Avacta continues to actively seek to
license its proprietary platforms in a range of therapeutic
areas.
To register for news alerts by email go to www.avacta.com/investor-news-email-alerts
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