Chief Executive Officer’s Welcome
Welcome to Avacta’s website for shareholders and investors
“Our mission is to shape the future of cancer treatment by developing novel cancer therapies using our proprietary Affimer® and pre|CISIONTM platforms, and by providing powerful Affimer® reagents for research and diagnostics. 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 developing novel cancer immunotherapies combining its two proprietary platforms – Affimer® biotherapeutics and pre|CISIONTM 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 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 expects to take its first drug, a targeted form of the standard-of-care Doxorubicin, into the clinic in the middle of 2020.
Avacta reagents business unit works with partners world-wide to develop Affimer® proteins for evaluation by those third parties with the objective of establishing royalty bearing license deals with a particular focus on the diagnostics sector. The Company is also developing a small in-house pipeline of Affimer-based diagnostic assays for licensing.
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 aims to take its first pre|CISIONTM targeted chemotherapy, pro-Doxorubicin, into the clinic in mid-2020.
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 planned phase I clinical trial of AVA6000 in 2020, 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 2019-2021
- 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 and convert on-going Affimer® diagnostics and reagents evaluations into multiple license deals that will deliver long term royalties and a profitable Affimer® diagnostics business.