Avacta Group PLC Grant Funding
August 10 2016 - 2:00AM
RNS Non-Regulatory
TIDMAVCT
Avacta Group PLC
10 August 2016
10 August 2016
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Avacta and Leeds University awarded GBP3.8m Medical Research
Council funding to develop new diagnostic tests
-- Collaboration to develop rapid tests to differentiate between
viral and bacterial infections, and differentiate bacterial
strains
-- R&D programme aims to combine Avacta's Affimer technology
with novel microfluidic biosensors
-- Avacta has first rights to commercialise new tests developed under the programme
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and research reagents, is pleased to announce that
a collaborative development programme with Leeds University has
been awarded a GBP3.8 million grant by the Medical Research Council
to develop novel, rapid diagnostic tools incorporating Affimer
reagents, to differentiate between viral and bacterial infections,
and differentiate bacterial strains.
This programme will develop next generation biosensors to
differentiate between bacterial and viral infections and also to
determine which bacterial strain has caused the infection so that
the correct antibiotic can be quickly administered. This will allow
for more targeted use of antibiotics, reducing the number of
wrongly prescribed treatments and increasing efficacy for patients,
which will contribute to a reduction in anti-microbial resistance
(AMR).
AMR is a major challenge for global healthcare. There is a
growing global increase in the number and type of bacteria
resistant to antibiotics, and stagnation in the development of new
antibiotics and viable alternatives. The current lack of rapid and
accurate diagnostic tools for infectious diseases often leads to
inappropriate antibiotic prescription, which has had a direct and
significant impact on the increase of AMR, including the
methicillin resistance of staphylococcus aureus (MRSA). This also
leads to poor control of potentially life-threatening infections
such as clostridium difficile, and the continued increase in
hospital caught infections.
Affimer technology is an engineered alternative to antibodies
that can capture a target, such as a bacterial or viral protein,
with a high degree of specificity. Affimer reagents can be used to
create accurate diagnostic tests and laboratory assays, and can
also be developed as new therapeutic candidates.
The development of the biosensors will take place at Leeds
University in the Groups of Professors Christoph Walti (Electronic
Engineering) and Mike McPherson (Biochemistry). Avacta will provide
support for the development of Affimer reagents that will be
incorporated into the biosensors to facilitate the specific capture
of bacterial biomarkers.
As part of the collaborative agreement between Avacta and the
University of Leeds, Avacta will have the first rights to
commercialise the new Affimer reagents and new diagnostic tests
developed under the programme.
Alastair Smith, Avacta Group Chief Executive commented:
"I am delighted that the potential of Affimer reagents to
improve rapid diagnostics has been recognised by the Medical
Research Council through this substantial funding. The combination
with the innovative microfluidic devices developed at Leeds
University is very promising and could lead to a new class of rapid
test device.
"There is a growing, global need for diagnostic tests that
differentiate bacterial strains. Anti-microbial resistance is a
huge issue for healthcare providers and one that is only going to
get worse if the prescription of antibiotics is not targeted by
accurate and rapid diagnostics. This programme fits perfectly with
our near term commercial strategy to focus on developing Affimer
reagents for rapid diagnostics. It will deliver valuable Affimer
reagents that are specific to key bacterial strains, which can be
developed into a range of third party diagnostic platforms. In the
longer term the programme will also deliver novel, microfluidic,
rapid test devices, which may surpass existing technologies.
"This is another example of the continued strong momentum behind
the Affimer technology and I look forward to reporting on progress
on this and other applications."
ENDS
Notes to Editors
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0)
Alastair Smith, Chief Executive 844 414 0452
Officer www.avacta.com
Tony Gardiner, Chief Financial
Officer
Numis Securities Limited Tel: +44 (0)
Michael Meade / Freddie Barnfield 207 260 1000
- Nominated Adviser www.numiscorp.com
James Black - Corporate Broking
WG Partners Tel: +44 (0)
David Wilson 203 705 9318
Nigel Barnes Tel: +44 (0)
Claes Spang 203 705 9217
www.wgpartners.co.uk
Zyme Communications (Trade and Tel: +44 (0)7787
Regional Media) 502 947
Katie Odgaard katie.odgaard@zymecommunications.com
FTI Consulting (Financial Media Tel: +44 (0)
and IR) 203 727 1000
Simon Conway / Natalie Garland-Collins avacta@fticonsulting.com
About Avacta Group plc (www.avacta.com)
Avacta's principal focus is on its proprietary Affimer(R)
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 $75bn 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 targets to enable diagnostics, research assays
and therapeutics.
Avacta has a pre-clinical therapeutic development programme with
an in-house focus on immuno-oncology and bleeding disorders as well
as partnered development programmes. Avacta is commercialising
non-therapeutic Affimer reagents through licensing to developers of
life sciences research tools and diagnostics.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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