Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and reagents, announces that its Chief Financial Officer, Tony Gardiner, has purchased on 31 December 2018 8,196 ordinary shares of 10p each in the Company ("Ordinary Shares") at a price of 30.5 pence per Ordinary Share.
Following this transaction, Tony Gardiner's total beneficial interest in the Company is 8,196 Ordinary Shares, representing less than 0.1% of Avacta's issued share capital. In addition, Tony Gardiner has a joint interest in 150,000 Ordinary Shares; such Ordinary Shares are jointly held by certain Directors individually and Avacta Group Trustee Limited in its capacity as trustee of The Avacta Employees' Share Trust.
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Avacta's principal focus is on its proprietary Affimer® technology which is a novel engineered alternative to antibodies that has wide application in Life Sciences for diagnostics, therapeutics and general research and development.
Antibodies dominate markets worth in excess of $100bn despite their shortcomings. Affimer® technology has been designed to address many of these negative performance issues, principally; the time taken to generate new antibodies, the reliance on an animal's immune response, poor specificity in many cases, and batch to batch variability. Affimer® technology is based on a small protein that can be quickly generated to bind with high specificity and affinity to a wide range of protein targets.
Avacta has a pre-clinical biotech development programme with an in-house focus on immuno-oncology as well as partnered development programmes. Avacta is commercialising non-therapeutic Affimer® reagents through licensing to developers of life sciences research tools and diagnostics.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Details of the person discharging managerial responsibilities / person closely associated
Reason for the Notification
Chief Financial Officer
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Avacta Group Plc
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the Financial instrument, type of instrument
ordinary shares of 10p
Nature of the transaction
Purchase of Ordinary Shares
Price(s) and volume(s)
· Aggregated volume
Date of the transaction
31 December 2018
Place of the transaction
London Stock Exchange, AIM Market (XLON)
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