Source - LSE Regulatory
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® and pre|CISION™ 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

Tony Gardiner, Chief Financial Officer

Michael Vinegrad, Group Communications Director

 

 

Tel: +44 (0) 844 414 0452

www.avacta.com

 

Stifel Nicolaus Europe Limited (Nomad and Broker)

Nicholas Moore / Nick Adams / Fred Walsh / Ben Maddison

 

Tel: +44 (0) 207 710 7600

www.stifel.com

 

FTI Consulting (Financial Media and IR)

Simon Conway / Stephanie Cuthbert

 

Tel: +44(0) 203 727 1000

Avacta.LS@fticonsulting.com

 

Zyme Communications (Trade and Regional Media)

Katie Odgaard

 

Tel: +44 (0)7787 502 947

katie.odgaard@zymecommunications.com

 

 

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® biologics and pre|CISION™ tumour targeted chemotherapies.

 

The Affimer® 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™ 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® SARS-CoV-2 Lateral Flow Rapid Antigen Test, and works with partners world-wide to develop bespoke Affimer® 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™ 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™ 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

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOEFZLFFFBLXFBZ
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.