Avacta Group PLC Posting of Annual Report and Notice of AGM (3071N)

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RNS Number : 3071N

Avacta Group PLC

31 May 2022

31 May 2022

Avacta Group plc

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

Posting of Annual Report and Notice of AGM

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 its Annual Report and Accounts for the year ended 31 December 2021 and the Notice of the 2022 Annual General Meeting ('AGM') are now available on the Company's website www.avacta.com .

Copies of the Annual Report and Accounts and the Notice of AGM have been posted to shareholders who have elected to receive them in paper form.

The Annual General Meeting will be held on Thursday, 23 June 2022 at 3.30 p.m. BST at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD. Shareholders who plan to attend are required to register their attendance and prove their shareholding by email to [e-mail] .

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For further information from Avacta Group plc, please contact:

 
 Avacta Group plc                                     Tel: [phone] 
  Alastair Smith, Chief Executive                                www.avacta.com 
  Officer 
  Tony Gardiner, Chief Financial Officer 
  Michael Vinegrad, Group Communications 
  Director 
 Stifel Nicolaus Europe Limited                       Tel: [phone] 
  (Nomad and Broker)                                             www.stifel.com 
  Nicholas Moore / Nick Adams / Fred 
  Walsh / Nicholas Harland 
 FTI Consulting (Financial Media                       Tel: [phone] 
  and IR)                                           [e-mail] 
  Simon Conway / Alex Shaw / George 
  Kendrick 
 Zyme Communications (Trade and                        Tel: [phone] 
  Regional Media)                           [e-mail] 
  Lily Jeffery 
 

About Avacta Group plc - 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 and is derived from a small human protein. Affimer technology has been designed to address many of the negative issues of antibodies, principally: the time taken to generate new antibodies, the reliance on an animal's immune response; poor specificity in many cases; in addition to, the complexity and high cost of manufacture. Despite these shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, which are worth in excess of $100bn.

Avacta's pre|CISION(TM) targeted chemotherapy platform is designed to selectively release active chemotherapy in FAP rich tumour tissue to limit the systemic exposure that causes damage to healthy tissues, and thereby aims to improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.

The Avacta Group comprises two divisions: The therapeutics development activities are based in London, UK and a separate diagnostics business unit is based in Wetherby, UK. The Group is generating near-term revenues from Affimer(R) reagents for diagnostics, bioprocessing and research.

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 generate more tolerable and durable treatments for oncology patients who do not respond to existing therapies. By combining its two proprietary platforms the Group is building a wholly owned pipeline of clinically differentiated cancer therapies. In 2021 Avacta transitioned to become a clinical stage biopharmaceutical company, when it commenced a phase I trial in patients with locally advanced or metastatic selected solid tumours. The study was a first-in-human, open label, dose-escalation and expansion study of the Group's lead pre|CISION(TM) prodrug, AVA6000 (a pro-doxorubicin).

Avacta has established drug development partnerships with pharma and biotech, including 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 recent license agreement with Point Biopharma for them to develop radiopharmaceuticals based on the pre|CISION(TM) platform.

To register for news alerts by email go to www.avacta.com/investor-news-email-alerts

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May 31, 2022 02:01 ET (06:01 GMT)