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 developing novel cancer immunotherapies and powerful diagnostics based on its two proprietary platforms – Affimer® biologics and pre|CISION™ tumour targeted chemotherapies.
The Affimer® platform is an alternative to antibodies and is derived from a small human protein. Affimer® technology has been designed to address many of the negative issues of antibodies, principally: the time taken to generate new antibodies, the reliance on an animal’s immune response; poor specificity in many cases; in addition to, the complexity and high cost of manufacture. Despite these shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, which are worth in excess of $100bn.
Avacta’s pre|CISION™ targeted chemotherapy platform is designed to selectively activate chemotherapy in FAP rich tumour tissue to limit the systemic exposure that causes damage to healthy tissues, and thereby aims to improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.
The Avacta Group comprises two divisions: The therapeutics development activities are based in London and Cambridge, UK and a separate Diagnostics business unit is based in Wetherby, UK. The Group is generating near-term revenues from Affimer® reagents for diagnostics, bioprocessing and research.
Avacta’s Diagnostics Division is developing an in-house pipeline of Affimer-based diagnostic assays, including the AffiDX® SARS-CoV-2 lateral flow rapid antigen test, and works with partners world-wide to develop bespoke Affimer® reagents for third party products.
Avacta’s Therapeutics Division is working to generate more tolerable and durable treatments for oncology patients who do not respond to existing therapies. By combining its two proprietary platforms the Group is building a wholly owned pipeline of clinically differentiated cancer therapies. In 2021 Avacta transitioned to become a clinical stage biopharmaceutical company, when it commenced a phase I trial in patients with locally advanced or metastatic selected solid tumours. The study is a first-in-human, open label, dose-escalation and expansion study of the Group’s lead pre|CISION™ FAPα-activated drug, AVA6000 based on the generic chemotherapy, doxorubicin.
Avacta has established drug development partnerships with pharma and biotech, including 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 and a recent license agreement with Point Biopharma for them to develop radiopharmaceuticals based on the pre|CISION™ platform.
- Avacta’s proprietary Affimer® and pre|CISION™ platforms are delivering a robust portfolio of differentiated therapeutic and diagnostic products that address multiple multi-billion dollar markets.
- Affimer® molecules are engineered alternatives to antibodies that have significant competitive advantages including size, stability, versatility, rapid development and ease of production. Despite their shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, worth in excess of $100 billion.
- The pre|CISION™ targeted chemotherapy platform releases active chemotherapy directly in the tumour, limiting systemic exposure and side effects associated with many commonly used cancer treatments. The Phase I trial for the first candidate, AVA6000, started in August 2021 and FDA approval of its Investigational New Drug (‘IND’) application was announced in November 2021. The Phase Ia dose escalation study is expected to complete in the middle of 2022 and the Phase Ib dose expansion study to commence shortly afterwards.
- There is also significant longer term potential to combine the two platforms to create next generation targeted ‘drug conjugate’ cancer treatments.
- The platforms are also being developed through leading industry partnerships including LG Chem, Daewoong Pharmaceutical and POINT Biopharma.
- The second pre|CISIONTM tumour targeted chemotherapy candidate for development was announced in January 2022 and is a proteasome inhibitor referred to as AVA3996. The Company plans to generate additional Affimer® and pre|CISION™ drug development candidates in 2022, to further support its growing, innovative therapeutic pipeline.
- The Diagnostics Division is developing a range of in-vitro diagnostic products with a focus on rapid tests for professionals and the consumer.
- With its strong balance sheet, the Group expects to deliver major value inflection points from its well-funded therapeutic programmes over the next twelve months and deliver near- to medium-term revenues from its diagnostic business, driving long-term shareholder value.
- The Group also anticipates further commercial partnerships and license arrangements that will allow its technology platforms to be further developed leading to long term royalty based revenue in both the therapeutics and other markets.
Key Objectives 2022-2024
- Obtain the required phase Ia clinical data for AVA6000 FAP-activated doxorubicin to progress into phase Ib and phase 2.
- Leverage the AVA6000 clinical data to commercialise the broader preCISIONTM platform through licensing whilst retaining AVA600 as a wholly owned asset.
- 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 with partners and through in-house programmes.
- Continue to grow revenue from diagnostics product sales to deliver a profitable diagnostics business.