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Avacta Group PLC - Issue of Equity

RNS Number : 9141N
Avacta Group PLC
26 May 2020
 

 

 

 

 

26 May 2020

 

Avacta Group plc

 

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

 

Issue of Equity

 

Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and reagents, today announces that following the exercise of EMI share options by Group employees it has issued and allotted 289,472 new ordinary shares of 10 pence each in the Company ("Ordinary Shares").

 

Application has been made for the Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 1 June 2020. 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 208,797,815. 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

 

Tel: +44 (0) 844 414 0452

www.avacta.com

 

 

finnCap Ltd (Nomad and Joint Broker)

Geoff Nash / Giles Rolls / Teddy Whiley - Corporate Finance

Tim Redfern - ECM

Tel: +44 (0) 207 220 0500

www.finncap.com

 

 

Zeus Capital Limited (Joint Broker)

John Goold / Rupert Woolfenden - Corporate Broking

Tel: +44 (0)203 829 5000

www.zeuscapital.co.uk

 

Yellow Jersey (Financial Media and IR)

Sarah Hollins

Henry Wilkinson

 

Zyme Communications (Trade and Regional Media)

Katie Odgaard

 

 

Tel: +44 (0)203 004 9512

[email protected]

 

 

Tel: +44 (0)7787 502 947

[email protected] 

 

 

About Avacta Group plc - https://www.avacta.com

 

Avacta is developing novel cancer immunotherapies combining its two proprietary platforms - Affimer® biotherapeutics and pre|CISION™ 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 platform, activates chemotherapy only in the tumour, thereby limiting systemic exposure and damage to healthy tissues, and thus 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 late 2020 or early 2021.

 

Avacta has established drug development partnerships with pharma and biotech, including with Moderna Therapeutics Inc., a collaboration with LG Chem to develop treatments for autoimmune and inflammatory diseases worth up to $310m, a partnership with ADC Therapeutics to develop Affimer drug conjugates and a joint venture in South Korea with Daewoong Pharmaceuticals to develop the next generation of stem cell therapies that incorporate Affimer immuno-modulators. Avacta actively seeks to license its proprietary platforms in a range of therapeutic areas.

 

The 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 [email protected] or visit www.rns.com.
 
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Quick facts: Avacta Group PLC

Price: 119.5

Market: AIM
Market Cap: £297.31 m
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