Avacta Group PLC Result of AGM (6906Q)
June 22 2020 - 8:52AM
UK Regulatory
TIDMAVCT
RNS Number : 6906Q
Avacta Group PLC
22 June 2020
22 June 2020
Avacta Group plc
("Avacta", "the Group" or "the Company")
Result of Annual General Meeting
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and research reagents, is pleased to announce that
all resolutions have been duly passed by shareholders at the Annual
General Meeting held today, save for resolution 9, the general
authority to allot shares for cash.
The full text of each resolution is set out in the Notice of
Annual General Meeting, included in the 2019 Annual Report, which
is available under the Investor Documents & Presentations
section of the Company's website www.avacta.com .
Given shareholders were unable to attend the Annual General
Meeting as a result of the Coronavirus pandemic and Government
guidance, the Company would like to advise shareholders that the
most recent business updates and presentations can be found under
the Investor Documents & Presentations section of the Company's
website www.avacta.com .
- 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 - E CM
Zeus Capital Limited (Joint Broker) Tel: +44 (0)203 829 5000
John Goold / Rupert Woolfenden - www.zeuscapital.co.uk
Corporate Broking
Yellow Jersey PR (Financial Media Tel: +44 (0)203 004 9512
and IR) avacta@yellowjerseypr.com
Sarah Hollins
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 targeted chemotherapy platform, releases
active chemotherapy only in the tumour, thereby limiting systemic
exposure and damage to healthy tissues, and thereby 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 later in 2020 or
early 2021.
Avacta has established drug development partnerships with pharma
and biotech, including with Moderna Therapeutics Inc., a deal with
LG Chem worth up to $310m, a partnership with ADC Therapeutics to
develop Affimer drug conjugates and has established a joint venture
in South Korea with Daewoong Pharmaceutical focused on cell and
gene therapies incorporating Affimer immune-modulators. Avacta
actively seeks to license its proprietary platforms in a range of
therapeutic areas.
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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