19:00 Thu 08 Oct 2020
Avacta Group PLC - Issue of Equity
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Issue of Equity
Avacta Group plc (AIM: AVCT), the developer of innovative cancer therapies and diagnostics based on its proprietary Affimer® and pre|CISION™ platforms, today announces that following the exercise of share options by a services provider it has issued and allotted in total 2,000,000 new ordinary shares of
Application will be made for the Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on
Following Admission, the Company's enlarged issued share capital will be 252,649,804. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
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For further information from Avacta Group plc, please contact:
Avacta Group plc
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Tel: +44 (0) 844 414 0452
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finnCap Ltd (Nomad and Joint Broker) |
Tel: +44 (0) 207 220 0500
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Stifel Nicolaus Europe Limited (Joint Broker) |
Tel: +44 (0) 207 710 7600 |
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Zyme Communications (Trade and Regional Media)
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Tel: +44 (0)203 004 9512
Tel: +44 (0)7787 502 947 katie.odgaard@zymecommunications.com
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About Avacta Group plc - https://www.avacta.com
Avacta is developing novel cancer immunotherapies combining its two proprietary platforms - Affimer® biotherapeutics and pre|CISION™ 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
The Company benefits from near-term revenues generated from Affimer reagents for diagnostics, bioprocessing and research, through a separate business unit based in Wetherby,
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
Avacta's pre|CISION targeted chemotherapy platform, releases active chemotherapy only in the tumour, thereby limiting systemic exposure and damage to healthy tissues, and thereby 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 pre|CISION targeted form of the standard-of-care doxorubicin, into the clinic in early 2021.
Avacta has established drug development partnerships with pharma and biotech, including with Moderna Therapeutics Inc., a deal with LG Chem worth up to
Avacta diagnostics business unit works with partners world-wide to develop Affimers for evaluation by those third parties with the objective of establishing royalty bearing license deals. The Company is also developing a small in-house pipeline of Affimer-based diagnostic assays for licensing.
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