TIDMAVCT
RNS Number : 4030U
Avacta Group PLC
06 April 2021
6 April 2021
Avacta Group plc
("Avacta" or "the Group")
Distribution Agreement with ABCAM plc
Global distribution agreement with ABCAM plc to sell
Avacta's
SARS-CoV-2 research ELISA(1) Affimer(R) reagents
Avacta Group plc (AIM: AVCT), the developer of innovative cancer
therapies and diagnostics based on its proprietary Affimer(R) and
pre|CISION(TM) platforms, is pleased to announce that it has
entered into a global distribution agreement with ABCAM plc (AIM:
ABC; NASDAQ: ABCM) to sell the Group's recently developed
SARS-CoV-2 research ELISA Affimer(R) reagents.
Avacta has developed Affimer(R) reagents which can be used in a
high performance ELISA laboratory test to detect the SARS-CoV-2
spike protein with high sensitivity and excellent specificity for
the spike protein of the original strain of the virus and other
dominant variants such as B117 ("Kent" strain) and D614G.
ABCAM is one of the world's leading suppliers of high-quality
biological reagents and kits which are used in a wide range of
fields including drug discovery, diagnostics and basic research.
Under the worldwide, non-exclusive distribution agreement, ABCAM
will enable the global research community to access Avacta's
SARS-CoV-2 spike protein Affimer(R) research reagents through its
on-line catalogue. This will allow scientists around the world to
perform the ELISA test in their own laboratories and support the
global fight against the pandemic.
Dr Alastair Smith, Chief Executive of Avacta Group
commented:
"We are delighted that we have established a global route to
market for the SARS-CoV-2 spike protein Affimer(R)
reagents through ABCAM's dedicated global commercialisation infrastructure.
As far as we are aware, our spike protein ELISA test is the most
sensitive test of its kind and, in ABCAM, we have a world-leading
partner capable of maximising the commercial potential of the
Affimer(R) reagents by making them globally available to scientists
who are researching into the SARS-CoV-2 coronavirus.
I look forward to further updating the market on progress across
the Group in due course."
This announcement contains information which, prior to its
disclosure, was considered inside information for the purposes of
Article 7 of Regulation (EU) No 596/2014 (MAR).
- 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
finnCap Ltd (Nominated Adviser and Joint Broker) Tel: +44 (0) 207 220 0500
Geoff Nash / Giles Rolls - Corporate Finance www.finncap.com
Tim Redfern - ECM
Stifel Nicolaus Europe Limited (Joint 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
(1) Enzyme Linked Immuno-Sorbent Assay
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 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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