Avacta Group PLC Issue of Equity and Total Voting Rights (1255P)
October 14 2021 - 7:36AM
UK Regulatory
TIDMAVCT
RNS Number : 1255P
Avacta Group PLC
14 October 2021
14 October 2021
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Issue of Equity and Total Voting Rights
Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical
company developing innovative cancer therapies and powerful
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 59,275
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 or
around 20 October 2021 ("Admission") . 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 253,712,353 . 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
Alastair Smith, Chief Executive Officer Tel: +44 (0) 844 414 0452
Tony Gardiner, Chief Financial Officer www.avacta.com
Michael Vinegrad, Group Communications
Director
Stifel Nicolaus Europe Limited (Nomad Tel: +44 (0) 207 710 7600
and Broker) www.stifel.com
Nicholas Moore / Nick Adams / Fred
Walsh / Ben Maddison
FTI Consulting (Financial Media and Tel: +44(0) 203 727 1000
IR) Avacta.LS@fticonsulting.com
Simon Conway / Stephanie Cuthbert
Zyme Communications (Trade and Regional Tel: +44 (0)7787 502 947
Media) katie.odgaard@zymecommunications.com
Katie Odgaard
About Avacta Group plc - https://www.avacta.com
Avacta Group is developing novel cancer immunotherapies and
powerful diagnostics based on its two proprietary platforms -
Affimer(R) biologics and pre|CISION(TM) tumour targeted
chemotherapies.
The Affimer(R) platform is an alternative to antibodies derived
from a small human protein. Despite their shortcomings, antibodies
currently dominate markets, such as diagnostics and therapeutics,
worth in excess of $100bn. Affimer technology has been designed to
address many of these negative performance issues, principally: the
time taken to generate new antibodies and the reliance on an
animal's immune response; poor specificity in many cases; their
large size, complexity and high cost of manufacture.
Avacta's pre|CISION(TM) targeted chemotherapy platform releases
active chemotherapy in the tumour, which limits the systemic
exposure that causes damage to healthy tissues, and thereby
improves the overall safety and therapeutic potential of these
powerful anti-cancer treatments.
The Group comprises two divisions: The therapeutics development
activities are based in London and Cambridge, UK and the Group is
generating near-term revenues from Affimer reagents for
diagnostics, bioprocessing and research, through a separate
diagnostics business unit based in Wetherby, UK.
Avacta's Diagnostics Division is developing an in-house pipeline
of Affimer-based diagnostic assays, including the AffiDX(R)
SARS-CoV-2 Lateral Flow Rapid Antigen Test, and works with partners
world-wide to develop bespoke Affimer(R) reagents for third party
products.
Avacta's Therapeutics Division is working to deliver a more
tolerable and durable treatment response for oncology patients who
do not respond to existing immunotherapies. By combining its two
proprietary platforms the Group is building a wholly owned pipeline
of clinically differentiated cancer therapies, aiming to extend the
therapeutic benefits to all cancer patients. In 2021 Avacta
transitioned to become a clinical stage biopharmaceutical company,
commencing a phase I first-in-human, open label, dose-escalation
and expansion study of AVA6000, a pro-doxorubicin, the Group's lead
pre|CISION(TM) prodrug, in patients with locally advanced or
metastatic selected solid tumours.
Avacta has established drug development partnerships with pharma
and biotech, including a research collaboration with ModernaTX,
Inc. (formerly Moderna Therapeutics Inc.), a multi-target deal with
LG Chem worth up to $400m, a joint venture in South Korea with
Daewoong Pharmaceutical focused on cell and gene therapies
incorporating Affimer immune-modulators and a collaboration with
Point Biopharma to develop radiopharmaceuticals based on the
pre|CISION(TM) platform. Avacta continues to actively seek to
license its proprietary platforms in a range of therapeutic
areas.
To register for news alerts by email go to www.avacta.com/investor-news-email-alerts
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