TIDMAVCT
RNS Number : 6520B
Avacta Group PLC
03 February 2020
3 Feburary 2020
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Avacta and Daewoong Agree Collaboration and License Agreement
with AffyXell Therapeutics
License agreement to utilise Affimer proteins in next generation
cell and gene therapies
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and reagents, is pleased to announce that it has
signed a collaboration and license agreement with AffyXell
Therapeutics ("AffyXell"), the recently established joint venture
with Daewoong Pharmaceutical ("Daewoong"), to develop Affimer
proteins to be used by AffyXell for the generation of new cell and
gene therapies.
Avacta and AffyXell will now work together to develop Affimer
proteins against a range of targets which, when produced by
mesenchymal stem cells (MSCs), are intended to inhibit inflammatory
and autoimmune pathways and improve the overall efficacy of MSCs,
creating a next generation of stem cell therapies.
The initial focus for AffyXell will be on inflammatory and
autoimmune diseases. In the longer term, there is potential for
AffyXell to address oncology uses for these Affimer-enabled cell
and gene therapies.
Under the terms of the collaboration and license agreement,
Avacta's research and development costs associated with generation
of the Affimer proteins will be funded by AffyXell. In addition,
Avacta will retain the rights to commercialise the Affimer proteins
outside of the field of cell therapies.
Dr Alastair Smith, Chief Executive Officer of Avacta Group,
commented:
"The potential for AffyXell's new class of cell therapies, which
can be applied to a wide range of inflammatory and autoimmune
diseases, is enormous. We are therefore very excited by the
opportunity to be part of this new venture and to demonstrate the
power of Affimer proteins in the field of engineered cell
therapies.
"Our objective is for these cell therapies to finally fully
address diseases, such as inflammatory bowel diseases and multiple
sclerosis, as well as other autoimmune diseases, such as chronic
obstructive pulmonary disease. The potential to make a difference
in the quality of life for millions of patients continues to
inspires us, as we know it does our colleagues at Daewoong as
well.
"From a commercial perspective, the global stem cell market is
expected to be worth USD16bn* by 2025. AffyXell has a unique
opportunity to combine two world-class technologies, Avacta's
Affimer antibody mimetic platform and Daewoong's proprietary
technology for generating "off-the-shelf" allogeneic MSC therapies
to create the next generation of stem cell therapies. We believe
that this has the potential to create substantial value for
stakeholders in the near future."
*
https://www.grandviewresearch.com/press-release/global-stem-cells-market
Seng-ho Jeon, CEO of Daewoong Pharmaceutical, commented:
"We are very excited to contract this Collaboration and License
Agreement followed by the successful establishment of an innovative
joint venture, AffyXell. Daewoong and Avacta will make every effort
to AffyXell's growth and its development of distinguished and
innovative cell and gene therapy treatment.
"As announced at the J.P. Morgan Healthcare Conference this
January, Daewoong has been inspired to partner global biotechnology
companies like Avacta to create the best and the most comprehensive
technology in new drug development field. Starting from our very
first cell and gene therapy specialized joint company, we reaffirm
our belief that our contract can not only further establish
AffyXell to thrive as an leader of cell and gene therapy, but also,
allow us to enhance quality of lives to those who suffer from rare
and intractable conditions."
- Ends -
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 844 414 0452
Alastair Smith, Chief Executive www.avacta.com
Officer
Tony Gardiner, Chief Financial
Officer
finnCap Ltd (Nominated Adviser Tel: +44 (0) 207 220 0500
and Joint Broker) www.finncap.com
Geoff Nash / Giles Rolls - Corporate
Finance
Tim Redfern - ECM
Yellow Jersey PR (Financial Media Tel: +44 (0)7764 947 137
and IR) Tel: +44 (0)7951 402 336
Sarah Hollins avacta@yellowjerseypr.com
Henry Wilkinson
Emma Becirovic
Tel: +44 (0)7787 502 947
Zyme Communications (Trade and katie.odgaard@zymecommunications.com
Regional Media)
Katie Odgaard
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 $100bn. 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 the middle of
2020.
Avacta has established drug development partnerships with pharma
and biotech, including with Moderna Therapeutics Inc., a deal with
LG Chem worth up to $310m, and a partnership with ADC Therapeutics.
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.
To register for news alerts by email go to
www.avacta.com/investor-news-email-alerts
About Daewoong Pharmaceutical - http://www.daewoong.com
Established in 1945, Daewoong Pharmaceutical Co., Ltd. is a
leading South Korean pharmaceutical company that develops,
manufactures, and commercializes pharmaceuticals for both domestic
and international markets. With its strong and competent in-house
R&D and qualified manufacturing facilities (cGMP), Daewoong
provides a total healthcare solution to customers across the globe.
Aiming to become a global healthcare company, Daewoong has
broadened international operations by establishing branch offices
and research centers throughout Asia and the United States. Also
Daewoong has expanded strategic partnerships in more than 100
countries worldwide.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGRDFLFXBFLEBBD
(END) Dow Jones Newswires
February 03, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Avacta (LSE:AVCT)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Avacta (LSE:AVCT)
Storico
Da Mag 2023 a Mag 2024
