TIDMAVCT

RNS Number : 9859M

Avacta Group PLC

20 September 2023

20 September 2023

Avacta Group plc

("Avacta" or the "Company" and, together with its subsidiary undertakings, the "Group")

Peel Hunt Appointed as Joint Broker

Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, today announces that it has appointed Peel Hunt LLP ("Peel Hunt") as Joint Broker alongside Stifel Nicolaus Europe which acts as Broker and Nomad to the Company.

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For further information from Avacta Group plc, please contact:

 
 Avacta Group plc                            Tel: +44 (0) 1904 21 7070 
  Alastair Smith, Chief Executive                       www.avacta.com 
  Officer 
  Tony Gardiner, Chief Financial 
  Officer 
  Michael Vinegrad, Group Communications 
  Director 
 Stifel Nicolaus Europe Limited              Tel: +44 (0) 207 710 7600 
  (Nomad and Broker)                                    www.stifel.com 
  Nicholas Moore / Nick Adams / 
  Samira Essebiyea / Nick Harland 
  / Dhiren Suares / William Palmer-Brown 
 Peel Hunt                                   Tel: +44 (0) 207 418 8900 
  James Steel/ Chris Golden/ Patrick                  www.peelhunt.com 
  Birkholm 
 
  ICR Consilium                             avacta@consilium-comms.com 
  Mary-Jane Elliott / Jessica Hodgson 
  / Sukaina Virji 
 
   About Avacta Group plc -   www.avacta.com 

Avacta Group plc is a life sciences company working to improve people's health and well-being through innovative oncology drugs and powerful diagnostics. Operating through two divisions, Diagnostics and Therapeutics, the Group's mission is to provide professionals and consumers with solutions that improve healthcare, fitness and well-being.

Avacta's Therapeutics Division, a clinical stage oncology drug innovator, is building a wholly owned pipeline of novel Affimer(R) immunotherapies and pre|CISION(TM) tumour targeted chemotherapies. This approach is designed to address the lack of a durable response to current cancer immunotherapies experienced by most patients and reduce the severe systemic toxicities caused by chemotherapies. There are five programmes in the pipeline as well as several global research collaborations and licensing partnerships. Avacta's lead programme, AVA6000, is a pre|CISION(TM) tumour-targeted form of the established chemotherapy doxorubicin. AVA6000 is in Phase I clinical trials in patients with locally advanced or metastatic selected solid tumours.

The Affimer(R) platform is an alternative to antibodies that has been designed to address many of the drawbacks of antibodies which, despite their shortcomings, currently dominate the immuno-diagnostics and immuno-therapeutics markets.

The pre|CISION(TM) tumour targeting platform can be used to modify a chemotherapy in order to selectively release the active drug in tumour tissue thereby reducing the systemic exposure that causes damage to healthy tissues. pre|CISION(TM) modified chemotherapies are designed to reduce the side effects and improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.

Avacta's Diagnostics Division develops and supplies a broad range of in-vitro diagnostic (IVD) solutions. The Division is growing rapidly through an M&A strategy to deliver a global-scale IVD business providing market-leading solutions for healthcare professionals and consumers to inform treatment and monitor health and well-being. In October 2022, Avacta acquired Launch Diagnostics which serves the hospital pathology laboratory market in the UK and Europe. In May 2023, Avacta acquired Coris Bioconcept a Belgium-based lateral flow test developer and manufacturer adding a broad range of marketed professional-use rapid tests into the Diagnostics Division. Avacta Diagnostic's research and development centre in Wetherby, UK uses its proprietary Affimer(R) platform to differentiate immunodiagnostic products to provide market-leading performance.

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