REG - Avacta Group PLC - Avacta Completes Launch Diagnostics Sale

AvactaAnnouncement

25/03/2025 07:15

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RNS Number : 9659B  Avacta Group PLC  25 March 2025

 

 

Avacta Announces Completion of the Sale of Launch Diagnostics

 

LONDON AND PHILADELPHIA - 25 March 2025 - Further to the announcement made on
7 March 2025, Avacta Group plc (AIM: AVCT), a life sciences company developing
next generation peptide drug conjugates (PDC) targeting powerful anti-tumor
payloads directly to the tumor, is pleased to announce that all closing
conditions to the sale of the entire issued share capital of Launch
Diagnostics Holdings Limited and its subsidiaries, its UK-headquartered and
largest diagnostics unit, to Duomed Belgium NV, a subsidiary of Palex
Healthcare Group S.L.U, have been satisfied and completion of the sale took
place yesterday.

 

 

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For further information from Avacta, please contact:

 

 Avacta Group plc                                    https://avacta.com/ (https://avacta.com/)

 Michael Vinegrad, Group Communications

 Director

 Peel Hunt (Nomad and Broker)

 James Steel / Chris Golden                          www.peelhunt.com (http://www.peelhunt.com/)

 Panmure Liberum (Joint Broker)                      www.panmureliberum.com (http://www.panmureliberum.com)

 Emma Earl / Will Goode / Mark Rogers

 ICR Healthcare

 Mary-Jane Elliott / Jessica Hodgson / Max Bennett   avacta@icrhealthcare.com (mailto:avacta@icrhealthcare.com)

 Investor Contact

 Renee Leck                                          renee@thrustsc.com (mailto:renee@thrustsc.com)

 THRUST Strategic Communications

 Media Contact

 Carly Scaduto                                       Carly@carlyscadutoconsulting.com

                                                   (https://www.globenewswire.com/Tracker?data=YG-jwixFWaHByFwlhEr4NbVmhGc9YbrV0ozbiHY-33jDG-KDtaZDvqBLS4-5RgIi5zejtwvrLPO1U6xSYlV9BnK-dIegbuZft6wwj-ugstEWYrPDSrd9NwgKYBdm1l9Ty6VSa1gsRJqxeLaMfUN-easXzPVocBafm0xbzTKFahId-T7w4WgPYGYfKdFh6MGXNNniX0b0LrpQwjqHYj_mTmjerN3nRW6pwlbWejQ6wZCns0oke-U-WA7CB-Z2CD1ObedcWrqwKYgQwTY1NxAOLXtmHTL3VJ7HZ4Z3K9ZhB_2_vgbo4aKKTppE6l1bjU2w)
 Carly Scaduto Consulting

 

 

About Avacta - https://avacta.com/ (https://avacta.com/)

Avacta Therapeutics is a clinical-stage life sciences company expanding the
reach of highly potent cancer therapies with the pre|CISION(®) platform.
pre|CISION(®) is a proprietary payload delivery system based on a
tumor-specific protease (fibroblast activation protein or FAP) that is
designed to concentrate highly potent payloads in the tumor microenvironment
while sparing normal tissues. Our innovative pipeline consists of
pre|CISION(®) peptide drug conjugates (PDC) or Affimer(®) drug conjugates
(AffDC) that leverage the tumor-specific release mechanism, providing unique
benefits over traditional antibody drug conjugates.

 

About the pre|CISION® Platform

The pre|CISION® platform comprises an anticancer payload conjugated to a
proprietary peptide that is a highly specific substrate for fibroblast
activation protein (FAP) which is upregulated in most solid tumors compared
with healthy tissues. The pre|CISION® platform harnesses this tumor specific
protease to cleave pre|CISION® peptide drug conjugates and pre|CISION®
antibody/Affimer® drug conjugates in the tumor microenvironment, thus
releasing active payload in the tumor and reducing systemic exposure and
toxicity, allowing dosing to be optimized to deliver the best outcomes for
patients.

 

About Palex Healthcare Group S.L.U - palexhealth.com
(https://www.palexhealth.com/)

Palex is the European benchmark for advanced solutions in the healthcare
sector, with over 70 years of experience providing tailored technological
innovations to healthcare professionals and researchers. Its purpose is to
improve lives by introducing cutting-edge technology to hospitals,
laboratories, and research centers. Palex's approach ranges from selecting
state-of-the-art products to offering technical support and specialized
training for healthcare and research professionals. The company operates
across various fields, including surgery, diagnostics, laboratory and critical
care, ensuring solutions adapted to each client's needs. With a presence in
multiple countries, Palex remains strongly committed to quality, innovation,
and sustainability in the healthcare sector. Through its own brands and
strategic partnerships with internationally renowned manufacturers, Palex
positions itself as a key partner in the evolution of the medical-scientific
sector, contributing to improved efficiency and safety in healthcare.

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