TIDMAVCT

RNS Number : 3497D

Avacta Group PLC

28 June 2021

28 June 2021

Avacta Group plc

("Avacta" or "the Group" or "the Company")

Result of Annual General Meeting

Avacta Group plc (AIM: AVCT), the developer of diagnostics and innovative cancer therapies based on its proprietary Affimer(R) and pre|CISION(TM) platforms, is pleased to announce that all resolutions have been duly passed by shareholders at the Annual General Meeting held today.

The full text of each resolution is set out in the Notice of Annual General Meeting, included in the 2020 Annual Report, which is available under the Investor Documents & Presentations section of the Company's website www.avacta.com .

Given shareholders were advised not 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 
   Alastair Smith, Chief Executive                       Tel: +44 (0) 844 414 0452 
   Officer                                                          www.avacta.com 
   Tony Gardiner, Chief Financial Officer 
   Michael Vinegrad, Group Communications 
   Director 
 
   Stifel Nicolaus Europe Limited (Nomad                 Tel: +44 (0) 207 710 7600 
   and Broker)                                                      www.stifel.com 
   Nicholas Moore / Nick Adams / Fred 
   Walsh / Ben Maddison 
 
   FTI Consulting (Financial Media                        Tel: +44(0) 203 727 1000 
   and IR)                                             Avacta.LS@fticonsulting.com 
   Simon Conway / Stephanie Cuthbert 
 
   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.

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END

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June 28, 2021 07:13 ET (11:13 GMT)

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