Avacta Group PLC Change of Nominated Adviser (6703X)
06 May 2021 - 4:00PM
UK Regulatory
TIDMAVCT
RNS Number : 6703X
Avacta Group PLC
06 May 2021
6 May 2021
Avacta Group plc
("Avacta" or "the Group")
Change of Nominated Adviser
Avacta Group plc (AIM: AVCT), the developer of diagnostics and
innovative cancer therapies based on its proprietary Affimer(R) and
pre|CISION(TM) platforms, announces the appointment of Stifel
Nicolaus Europe Limited as Nominated Advisor and Sole Corporate
Broker with immediate effect.
Update to disclosures required by Schedule 2(g) of the AIM Rules
for Companies
In addition to disclosure of Dr Trevor Nicholls' directorship of
Oxloc Limited (as disclosed on 5 August 2013), Oxloc Limited was
placed into administration in 2008 and dissolved in 2010.
- Ends -
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 844 414 0452
Alastair Smith, Chief Executive Officer www.avacta.com
Tony Gardiner, Chief Financial Officer
Stifel Nicolaus Europe Limited (Nominated Adviser and Sole Corporate Broker) Tel: +44 (0) 207 710 7600
Nicholas Moore / Nick Adams / Fred Walsh / Ben Maddison www.stifel.com
FTI Consulting (Financial Media and IR) Tel: +44 (0) 203 727 1000
Simon Conway / Stephanie Cuthbert Avacta.LS@fticonsulting.com
Zyme Communications (Trade and Regional Media) Tel: +44 (0) 7787 502 947
Katie Odgaard katie.odgaard@zymecommunications.com
About Avacta Group plc - https://www.avacta.com
Avacta Group is developing diagnostics and innovative cancer
therapies based on its 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(TM) 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 an 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.
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