This information is provided for the purposes of AIM rule 26
Avacta Group plc (AIM:AVCT) came to the AIM market in 2006 to provide instrumentation, consumables and reagents for life science researchers. Since acquiring the Affimer technology, an engineered alternative to antibodies, in 2012, the Group has focused its investment and resources on this platform which it is commercialising through Avacta Life Sciences.
Affimer technology has a number of technical and commercial advantages over antibodies and can be used to develop therapeutics and reagents for diagnostics and research.
Initially the Group focused on the reagents opportunity for Affimer technology because of the nearer term revenues in this market. It remains a high priority for the Group to continue to build this revenue stream with the objective of creating a profitable Affimer diagnostics business unit as quickly as possible.
Following the establishment of a partnership with Moderna Therapeutics Inc., the Group raised capital to initiate its own in-house Affimer therapeutic programmes, focused on immuno-oncology, with the potential to deliver significant value to shareholders.
It is well known that combining chemotherapy with immunotherapy can deliver a better outcome for patients than immunotherapy alone. In 2018 the Group therefore exclusively licensed the pre|CISION technology developed at Tufts University which can be used to target chemotherapy to the tumour reducing the serious side effects of these effective cancer drugs.
The Group is now in a unique position with its two proprietary platforms to develop clinically differentiated cancer therapies which the Directors believe should generate significant commercial interest and value for shareholders.
Current significant shareholders are as follows:
Premier Miton Group – 4.66%
Baillie Gifford & Co Limited – 4.63%
Conifer Management, LLC – 3.54%
As at 3rd February 2021 the company has 253,236,345 ordinary shares of 10p each in issue.
Dr Alastair Smith
Mr Tony Gardiner
Dr Eliot Forster
Dr Trevor Nicholls
Dr Mike Owen
Mr Paul Fry
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Broker (Joint) – Stifel, 150 Cheapside London, EC2V 6ET
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Solicitor – Walker Morris, 33 Wellington Street, Leeds, LS1 4DL
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