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Avacta Group's Bach BioSciences deal 'an exciting step'

Capital Network analyst Riccardo Lowi discusses Avacta Group Plc's (LON:AVCT) development partnership with Bach BioSciences as well as the news it's making shares available via subscription and a placing to bring in £11.4mln.

Lowi says the R&D collaboration with Bach is a very exiting step, potentially leading to a pre-clinical deal with big pharma in the next 12-18 month.

On Avacta's fundraise, he says the move should support operations well into calendar year 2020.

Quick facts: Avacta Group PLC

Price: 16.25 GBX

AIM:AVCT
Market: AIM
Market Cap: £28.59 m
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