This (and the recent fundraise) leaves us confident that Avacta is on track to meet key development targets over the next 2-3 years. Their main therapeutic programs (in-house PD-L1/LAG3 bispecific Affimer and Affimer-drug conjugates co-developed with Tufts University) are on track to deliver key data points between 2019-2021.Full report is available via Capital Network website
- Overall Genedrive PLC (LON: GDR) reported a business and financial update for the six months to December 2017 in line with expectations
- Launch preparation of Genedrive® HCV test with partner Sysmex on track, expect sales to start coming through in CY2018
- £1.3mln income from the ongoing collaboration with the US DoD, in line with expectations
- Discussions for the disposal of the Services business are in progress
- With £4.6mln of cash at end-2017, and given the company's expected cash burn, a capital raise in the next 12 months can't be ruled out
- Full financial results for the six months to December 2017 to be published on March 20th
Avacta Group Plc (LON:AVACT) has recently finalised a co-development partnership with Boston-based Bach BioSciences, to exploit the potential of the Affimer platform for the development of a novel class of drug conjugates.
At the AGM of January 18th, Avacta reported good progress for both the Affimer therapeutic and reagents programs.
Their lead immuno-oncology development program is proceeding according to plan and multiple development milestones are expected in the course of 2018 (see next section for further details).