REG - Avacta Group PLC - AffiDx® lateral flow test detects Omicron variant

AvactaAnnouncement

15/12/2021 07:00

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RNS Number : 6647V  Avacta Group PLC  15 December 2021

 

15 December 2021

 

Avacta Group plc

 

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

 

AffiDx(®) SARS-CoV-2 antigen lateral flow test detects the Omicron variant

 

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 is pleased to announce
that the AffiDX(®) antigen lateral flow test has been shown to detect the
Omicron variant of the SARS-CoV-2 virus in clinical samples.

 

The Omicron (B.1.1.529) variant, with more than 35 mutations of the original
SARS-CoV-2 virus, first appeared in South Africa a few weeks ago and was
designated a variant of concern by the World Health Organisation (WHO) on 26
November 2021. The UK has now reported over 3,000 cases of this more
infectious variant of the virus.

 

The AffiDX(®) SARS-CoV-2 antigen lateral flow test has been evaluated at the
Carlos III Hospital in Madrid using a small number of actual patient samples
confirmed to be Omicron variant positive. The results indicate that the
AffiDX(®) antigen test detects the new Omicron variant in addition to all
previously identified new variants of concern.

 

Dr Alastair Smith, Chief Executive Officer of Avacta Group, commented:

"We are delighted to confirm that the AffiDX(®) SARS-CoV-2 antigen lateral
flow test detects the Omicron variant. As this variant is more infectious, it
is important that it can be detected in individuals with higher loads using
lateral flow tests so that its spread can be slowed down.

 

"We are progressing with our application to the CTDA in order to put the
AffiDx product on the market in the UK, as well as continuing to pursue
commercial opportunities in Europe and further afield for the professional-use
test. We also continue to work with our partners, Medusa 19 Healthcare, to
obtain the CE mark for consumer self-testing for the product which is a
critical next step in the commercialisation of the product."

 

-Ends-

 

For further information from Avacta Group plc, please contact:

 

 Avacta Group plc                                          Tel: +44 (0) 844 414 0452

 Alastair Smith, Chief Executive Officer                   www.avacta.com (http://www.avacta.com)

 Tony Gardiner, Chief Financial Officer

 Michael Vinegrad, Group Communications Director

 Stifel Nicolaus Europe Limited (Nomad and Broker)         Tel: +44 (0) 207 710 7600

 Nicholas Moore / Nick Adams / Fred Walsh / Ben Maddison   www.stifel.com (http://www.stifel.com/)

 FTI Consulting (Financial Media and IR)                   Tel: +44(0) 203 727 1000

 Simon Conway / Alex Shaw/ Stephanie Cuthbert              Avacta.LS@fticonsulting.com (mailto:Avacta.LS@fticonsulting.com)

 Zyme Communications (Trade and Regional Media)            Tel: +44 (0)7891 477 378

 Lily Jeffery                                              lily.jeffery@zymecommunications.com

                                                         (mailto:katie.odgaard@zymecommunications.com)

 

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

 

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(http://www.avacta.com/investor-news-email-alerts)

 

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