Avacta Group PLC Key Affimer Patent To Be Granted in China (5817E)
May 10 2017 - 2:00AM
UK Regulatory
TIDMAVCT
RNS Number : 5817E
Avacta Group PLC
10 May 2017
10 May 2017
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Key Affimer patent to be granted in China
Important step towards addressing the potentially large Chinese
diagnostics and therapeutics markets
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and research reagents, is pleased to announce that
the principal patent protecting the Affimer technology has been
accepted for grant in the People's Republic of China([1]) . On
issuance, this patent will extend coverage of Avacta's intellectual
property into another potentially large market for the Company;
considering the therapeutic applications of Affimers alone, China
now accounts for more than one fifth of the global therapeutic
antibody market([2]) .
Counterparts to this patent have already been granted in the US,
Europe and Japan.
The Affimer technology is based on a small protein that has been
engineered to present a "sticky" surface that can be made to bind
strongly and specifically to a target of interest such as another
protein or virus. The way in which the Affimer has been engineered
to give it the ability to bind a target is the core invention
covered by Avacta's intellectual property.
The Company is commercialising the Affimer technology through a
licensing model to developers of diagnostic and research products,
and is building a pipeline of Affimer drugs both in-house and with
partners. Protection of the Company's intellectual property in
China is an important step in creating commercial partnering
opportunities to address the Chinese diagnostic and
biopharmaceutical markets.
Dr Alastair Smith, Avacta Group Chief Executive Officer,
commented:
"The grant of a robust patent to cover the core Affimer
intellectual property in China adds further strength to our global
intellectual property position.
We continue to develop the core technology and I look forward to
updating the market regarding further expansion of our Affimer
intellectual property estate in due course."
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
finnCap Ltd Tel: +44 (0)
Geoff Nash / Giles Rolls - Nominated 207 220 0500
Adviser www.finncap.com
Tim Redfern / Alice Lane - Corporate
Broking
Tel: +44 (0)
WG Partners 203 705 9318
Nigel Birks / Nigel Barnes Tel: +44 (0)
David Wilson / 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 $50bn 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 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.
[1] Patent application 200980122473.6
[2]
http://www.prnewswire.com/news-releases/global-and-china-monoclonal-antibody-industry-report-2013-2017-252689041.html
This information is provided by RNS
The company news service from the London Stock Exchange
END
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