Avacta Group PLC Share Incentive Plan/Issue of Equity (5499C)
11 Febbraio 2020 - 8:00AM
UK Regulatory
TIDMAVCT
RNS Number : 5499C
Avacta Group PLC
10 February 2020
11 Feburary 2020
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Share Incentive Plan/Issue of Equity
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and reagents, is pleased to announce that as part
of its HMRC Approved Share Incentive Plan ("SIP") Award Scheme,
ordinary shares of 10p each in the Company ("Ordinary Shares") up
to a value of GBP3,000 per employee will be issued at the
prevailing middle market price at the close of business on 07
February 2020 to all eligible employees. These shares awarded will
form part of the employee's remuneration package.
Accordingly, an additional 101,701 Ordinary Shares have been
issued as part of the SIP Award Scheme to eligible employees.
Application has been made for the Ordinary Shares to be admitted
to trading on AIM and dealings are expected to commence on 17
February 2020 ("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 176,036,837. 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 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
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
MSCKKKBDCBKDPBD
(END) Dow Jones Newswires
February 11, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Avacta (LSE:AVCT)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Avacta (LSE:AVCT)
Storico
Da Apr 2023 a Apr 2024