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:
IP Group plc – 15.05%
J O Hambro – 9.38%
Baillie Gifford & Co Limited – 8.42%
Lombard Odier Asset Management – 5.39%
Miton Group – 4.87%
Carlton Holdings International – 4.83%
Unicorn Asset Management – 3.41%
As at 31st March 2020 the company has 176,036,837 ordinary shares of 10p each in issue.
18.3% of the ordinary shares of the Company are not held in public hands.
Avacta Group has not applied or agreed to have any of its securities (including its AIM securities) admitted or traded on any other exchanges or trading platforms.
There are no restrictions on the transfer of Avacta Group plc’s AIM securities.
Avacta Group plc is subject to the UK City Code on Takeovers and Mergers.
This information was last updated on 31st March 2020.
Dr Alastair Smith
Mr Tony Gardiner
Dr Eliot Forster
Dr Trevor Nicholls
Dr Mike Owen
Mr Paul Fry
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