TIDMAVCT

RNS Number : 0640G

Avacta Group PLC

03 August 2016

03 August 2016

Avacta Group plc

("Avacta" or "the Group" or "the Company")

Key Affimer patents to be granted in Europe and United States

Avacta Group plc (AIM: AVCT), the developer of Affimer(R) biotherapeutics and research reagents, is pleased to announce that the principal patent covering the Affimer technology has been granted in Europe. Additionally, a new patent is to be granted in the United States which extends the Company's intellectual property portfolio there.

The main patent relating to the Affimer intellectual property is already granted in the US and Japan, and is pending in other territories. The European Patent Office has now made the decision to grant the European counterpart patent (2,279,205). Separately the US Patent Office has issued a Notice of Allowance relating to US patent application 14/478,910. This will extend the coverage of Avacta's intellectual property in the US to be in-line with the coverage now granted in Europe.

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, peptide or chemical. The way in which the protein has been engineered, to give it the ability to bind a target, is the core invention covered by Avacta's intellectual property.

The commercial value of this intellectual property lies partly in the use of the Affimer proteins to capture a target from a sample so that it can be detected and quantified as part of a new diagnostic test, for example, or may facilitate new laboratory assays that are used in a wide range of life sciences' research and development. Recently the Company demonstrated the benefits of Affimer technology by generating three new Affimer reagents each capable of specifically binding a protein biomarker of the Zika infection. Antibodies that bind this biomarker, without cross-reacting with biomarkers from related diseases, such as dengue fever, are not available and therefore these new Affimers offer the potential of a unique rapid diagnostic.

A further significant commercial opportunity for Affimer technology lies in therapeutic applications. If the binding of the Affimer to the target also blocks the target's normal function then this presents the opportunity to create new drugs to interrupt disease processes and provide therapeutic benefit. The Company is engaged in developing such Affimer inhibitors of disease processes involved in cancer and blood clotting, as well as working with partners to provide Affimer therapeutics for their drug programmes.

Dr Alastair Smith, Avacta Group Chief Executive Officer, commented:

"The granting of the European patent for the core Affimer intellectual property, as well as the extension of the scope of the patent protection in the US, is excellent news and adds further strength to our intellectual property position.

We continue to develop the core technology and I look forward to updating the market regarding future patent applications as they occur."

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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