Chief Executive Officer’s Welcome
Welcome to Avacta’s website for shareholders and investors
“Our mission is to shape the future of medicine by developing novel cancer therapies and powerful diagnostics using our proprietary Affimer® and pre|CISIONTM platforms. Clear communication of our corporate objectives and keeping our shareholders up to date with progress, as well as informing potential new investors about the investment opportunity, is at the core of our communications programme. I hope you find the information you are looking for and welcome any feedback.”
Avacta is a clinical stage oncology drug company and developer of powerful diagnostics based on its innovative Affimer® and pre|CISION™ platforms.
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® diagnostics, 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 proprietary pre|CISIONTM targeted chemotherapy platform, releases active drug only in the tumour, thereby limiting systemic exposure and 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 took its first pre|CISIONTM drug candidate AVA6000, a targeted form of the standard-of-care Doxorubicin, into the clinic in summer 2021.
Avacta’s diagnostics business aims to become the leading provider of innovative, next generation diagnostic solutions, and the first choice for disruptive immunodiagnostic products. Our diagnostics division is utilising our proprietary Affimer® platform to develop AffiDX®in vitro diagnostic (IVD) tests, starting with the AffiDX® SARS-CoV-2 Antigen Lateral Flow Test. We have also established commercial relationships with IVD companies worldwide to improve the clinical utility of diagnostic testing solutions, by combining bespoke Affimer® reagents with leading diagnostic platform technologies.
Avacta is in a unique position, having two proprietary platforms to develop novel immunotherapies and safer forms of chemotherapy, to address the well known lack of response of most patients to standard immunotherapies.
Avacta has significantly de-risked the Affimer® platform to date and aims to demonstrate the safety and tolerability of Affimer® therapeutics in humans as soon as possible with its PD-L1 inhibitor programme. This PD-L1 asset also forms the basis of novel bispecifics and tumour targeted drug conjugates (TMACs).
Avacta took its first pre|CISIONTM targeted chemotherapy, AVA6000 pro-Doxorubicin, into the clinic in summer 2021.
Doxorubicin is a $1bn generic drug and a standard of care for many soft tissue sarcomas despite severe cardiotoxicity issues that limits its effectiveness. In the case of Avacta’s improved version of this drug, AVA6000 pro-Doxorubicin that incorporates the pre|CISIONTM tumour targeting technology, a dramatic improvement in safety has been observed in pre-clinical animal models. If a similar reduction in cardiotoxicity is seen in humans in the phase I clinical trial of AVA6000, then there is the potential for a major license deal that could generate a transformational, non-dilutive, upfront payment of tens of millions of dollars. This funding would support all Avacta’s other programmes in future. The pre|CISIONTM technology to improve the safety of a large number of other established chemotherapies and generate similar licensing opportunities. For this reason, the Company is prioritising this programme.
The Group also benefits from revenue generating businesses in the human and veterinary diagnostics market.
Key Objectives 2021-2023
- Obtain phase I clinical data for AVA6000 pro-Doxorubicin and license this asset as soon as possible to provide non-dilutive capital.
- Expand the number of fully funded partnerships and licensing deals for the Affimer® therapeutic platform.
- Demonstrate safety and tolerability of the Affimer® platform by progressing the first Affimer® into the clinic as quickly as possible.
- Continue to grow revenue from Affimer®-based diagnostics and build towards a profitable Affimer® diagnostics business.