Avacta Group PLC Issue of Equity (3116F)
November 13 2020 - 9:15AM
UK Regulatory
TIDMAVCT
RNS Number : 3116F
Avacta Group PLC
13 November 2020
13 November 2020
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Issue of Equity
Avacta Group plc (AIM: AVCT), the developer of innovative cancer
therapies and diagnostics based on its proprietary Affimer(R) and
pre|CISION(TM) platforms, today announces that following the
exercise of share options by an employee it has issued and allotted
in total 2,750 new ordinary shares of 10 pence each in the Company
("Ordinary Shares").
Application will be made for the Ordinary Shares to be admitted
to trading on AIM and dealings are expected to commence on 19
November 2020 . The Ordinary Shares will rank pari passu with the
existing Ordinary Shares of the Company.
Following Admission, the Company's enlarged issued share capital
will be 252,652,554. This figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules.
-Ends -
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 844 414
Alastair Smith, Chief Executive Officer 0452
Tony Gardiner, Chief Financial Officer www.avacta.com
finnCap Ltd (Nomad and Joint Broker) Tel: +44 (0) 207 220
Geoff Nash / Giles Rolls / Teddy Whiley 0500
- Corporate Finance www.finncap.com
Tim Redfern - ECM
Stifel Nicolaus Europe Limited (Joint Tel: +44 (0) 207 710
Broker) 7600
Nicholas Moore / Nick Adams / Fred Walsh www.stifel.com
/ Ben Maddison
Yellow Jersey (Financial Media and IR) Tel: +44 (0)203 004 9512
Sarah Hollins avacta@yellowjerseypr.com
Henry Wilkinson
Zyme Communications (Trade and Regional Tel: +44 (0)7787 502
Media) 947
Katie Odgaard katie.odgaard@zymecommunications.com
About Avacta Group plc - https://www.avacta.com
Avacta is developing novel cancer immunotherapies combining its
two proprietary platforms - Affimer(R) biotherapeutics and
pre|CISION(TM) tumour targeted chemotherapy. With this approach,
the Company aims to address the lack of a durable response to
current immunotherapies experienced by most patients. The Company's
therapeutics development activities are based in Cambridge, UK.
The Company benefits from near-term revenues generated from
Affimer reagents for diagnostics, bioprocessing and research,
through a separate business unit based in Wetherby, UK.
The Affimer platform is an alternative to antibodies derived
from a small human protein. Despite their shortcomings, antibodies
currently dominate markets worth in excess of $100 billion. Affimer
technology has been designed to address many of these negative
performance issues, principally: the time taken, and the reliance
on an animal's immune response, to generate new antibodies; poor
specificity in many cases; large size and cost.
Avacta's pre|CISION targeted chemotherapy platform, releases
active chemotherapy only in the tumour, thereby limiting systemic
exposure and damage to healthy tissues, and thereby improving the
overall safety and therapeutic potential of these powerful
anti-cancer treatments.
By combining these two platforms the Company is building a
wholly owned pipeline of novel cancer therapies with the aim of
creating effective treatments for all cancer patients including
those who do not respond to existing immunotherapies. Avacta
expects to take its first drug, a pre|CISION targeted form of the
standard-of-care doxorubicin, into the clinic in early 2021.
Avacta has established drug development partnerships with pharma
and biotech, including with Moderna Therapeutics Inc., a deal with
LG Chem worth up to $400 million, a partnership with ADC
Therapeutics to develop Affimer drug conjugates and has established
a joint venture in South Korea with Daewoong Pharmaceutical focused
on cell and gene therapies incorporating Affimer immune-modulators.
Avacta actively seeks to license its proprietary platforms in a
range of therapeutic areas.
Avacta diagnostics business unit works with partners world-wide
to develop Affimers for evaluation by those third parties with the
objective of establishing royalty bearing license deals. The
Company is also developing a small in-house pipeline of
Affimer-based diagnostic assays for licensing.
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