Avacta Group PLC Affimer Development Contract with Protatonce (3338E)
February 09 2015 - 2:00AM
UK Regulatory
TIDMAVCT
RNS Number : 3338E
Avacta Group PLC
09 February 2015
9 February 2015
Avacta Group plc
("Avacta" or "the Group")
Partnership to develop Affimer assays for the market leading
multiplex platform
Avacta Group plc (AIM: AVCT), the global provider of proprietary
diagnostic tools, consumables and reagents for human and animal
healthcare announces that it has entered into a commercial
partnership with ProtATonce, an approved Luminex partner, to
develop and commercialise high performance multiplexed assays for
the Luminex platform using Affimers.
ProtATonce is one of a number of exclusive Luminex partners
selected to develop and commercialise multiplexed assays on the
market leading Luminex xMAP(TM) platform which enables large
numbers of biological tests to be conducted and analysed quickly
using bead based assay kits. The bead based assay market is worth
$270m and around half of these assays are run using Luminex assay
kits. ProtATonce specializes in developing high quality assays with
high degrees of multiplexing to support the pharmaceutical industry
in drug discovery, mode of action analysis and drug
repositioning.
The Luminex technology itself is powerful and capable of
carrying out up to 500 tests in one experiment, but this high level
of multiplexing is only possible if the antibodies that are used in
the test kits are specific and show no cross reactivity between
tests. However, the cross reactivity of antibodies practically
limits the degree of multiplexing of the Luminex technology to
around 50 tests.
Under the terms of the agreement Avacta will provide Affimers to
ProtATonce who will develop Affimer based assays that take
advantage of the engineered specificity of Affimers to unlock the
high multiplexing potential of the Luminex platform. The aim is for
ProtATonce to develop assay kits with market leading, disruptive
levels of multiplexing and commercialise these through larger
commercial partners. Avacta will be entitled to a 50% share of
future revenues derived from the Affimer based Luminex test kits
with an agreed minimum annual sales level.
Dr Alastair Smith, Group Chief Executive commented:
"The Luminex platform is the market leading bead based
multiplexed assay platform and the potential of Affimers to
overcome the problems of antibody cross reactivity which limit the
overall performance of the technology is very exciting.
ProtATonce has an excellent reputation for developing high
quality, highly multiplexed assays and they are an excellent
partner for us to work with to establish Affimers in the Luminex
assay market. Indeed, all multiplexed assay platforms are
ultimately limited by the specificity of the affinity reagents and
therefore proving Affimers on the Luminex platform will open up the
wider multiplexed assay market.
I have no doubt that if we are successful in developing Luminex
assays with market leading degrees of multiplexing then these
products will become very attractive to a number of larger
commercial partners in this market."
Dr Leonidas Alexopoulos, Chief Executive of ProtATonce said:
"
"Affimers provide an exceptional alternative to antibodies.
Their small size, specificity, and robustness make them ideal
candidates for multiplex assays. This agreement with Avacta gives
us the opportunity to develop multiplex assays using the Affimer
technology. If successful, we are talking about the next big step
in protein detection and a disruptive product for the multiplex
market "
- Ends -
Enquiries:
Avacta Group plc Tel: +44 (0) 844 414
Alastair Smith, Chief Executive Officer 0452
Tim Sykes, Chief Financial Officer www.avacta.com
Numis Securities Limited Tel: +44 (0) 207 260
Michael Meade / Freddie Barnfield - Nominated 1000
Adviser www.numiscorp.com
James Black - Corporate Broking
Media Enquiries Tel: +44 (0) 207 933
Walbrook PR Ltd 8780
Mike Wort / Anna Dunphy avacta@walbrookpr.com
About Avacta Group plc - www.avacta.com
Avacta Group plc is a global provider of innovative
technologies, consumables and reagents for the life science
markets, from drug discovery to diagnostics. Avacta operates
through three divisions:
Avacta Life Sciences Novel engineered antibody replacements
www.avactalifesciences.com called Affimers, with a wide range of
Life Science applications in diagnostics,
drug and biomarker discover and biotech
research and development.
--------------------------------------- --------------------------------------------
Avacta Animal Health Veterinary diagnostics reference laboratory
www.avactaanimalhealth.com and diagnostic kit provider.
--------------------------------------- --------------------------------------------
Avacta Analytical High throughput analysis instrument, Optim,
www.avactaanalytical.com to help reduce the cost and risk of drug
development.
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This information is provided by RNS
The company news service from the London Stock Exchange
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